Big Law
Apollo Global Management Acquires Lendlease to Re-Launch Parallel Infrastructure
Affiliates of Apollo Global Management, Inc. (NYSE: APO) have acquired a US telecommunications platform owned by Lendlease, to capitalise on the business potential of 5G.
Lendlease acquired Parallel Infrastructure in 2017 from Florida East Coast Industries for an undisclosed sum and rebranded it. Now the business has been acquired by “certain funds managed by affiliates of Apollo”, and the Parallel Infrastructure brand resurrected.
Along with the business itself, the transaction included the portfolio of 500 operating macro cell towers across the US, and several hundred more under contract or in late-stage development.
