WestLB to continue discussions on WestImmo sale exclusively with Apollo
WestLB AG, Düsseldorf, is to continue the ongoing discussions on the sale of Westdeutsche ImmobilienBank AG, Mainz, its commercial real estate financing subsidiary, exclusively with affiliates of Apollo Global Management (NSYE: APO).
Westdeutsche ImmobilienBank AG (WestImmo) is one of the leading commercial real estate finance providers in Germany and enjoys a strong presence in the western, central and eastern Europe as well as North America and Asia. Its customers include institutional investors, global developers, real estate corporates and medium-sized businesses. With 450 employees and total assets of approximately € 24 billion, WestImmo is a competent partner in all real estate financing activities and transactions.
Apollo Global Management is a leading global alternative asset manager with offices in New York, Los Angeles, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of US$ 70 billion as of March 31, 2011, in private equity, credit-oriented capital markets and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.