Apollo Management Closes $250 Million Deal

(Washington, D.C.) - New York private equity investment firm Apollo Management LP has purchased $250 million of preferred stock in Kansas City, Missouri-based AMC Entertainment Inc. (AMEX: AEN), one of the world’s leading theatrical exhibition companies. The investment will give Apollo a 60 percent stake in AMC.

Under the terms of the deal, Apollo purchased $92 million of Series A Convertible Preferred Stock and $158 million of Series B Exchangeable Preferred Stock in AMC. AMC will use the proceeds to pay down some of its long-term debt.

Since its inception in 1990, Apollo Management has invested more than $8 billion of capital in more than 150 companies in a broad range of industries and a variety of transactions. AMC Entertainment Inc. is a leader in the theatrical exhibition industry, operating 181 theatres with 2,784 screens in the United States, Canada, France, Hong Kong, Japan, Portugal, Spain and Sweden.

Akin Gump Strauss Hauer & Feld represented Apollo in the deal. Skadden, Arps, Slate, Meagher & Flom LLP of New York represented AMC in the transaction.

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