Apollo-led investment group in talks to buy Atlas Air-sources

NEW YORK, Aug 1 (Reuters) – An investment group led by Apollo Global Management Inc (APO.N) is in advanced talks to buy air cargo company Atlas Air Worldwide Holdings Inc (AAWW.O), a person close folder. told Reuters.

No agreement has been reached and details of the transaction, including the purchase price and the composition of the investment group, could not be known.

Atlas Air is a holding company that provides air cargo and charter passenger travel for individuals, businesses and government agencies. Based in Purchase, New York, it has a market cap of over $2 billion.

Join now for FREE unlimited access to Reuters.com

Register

Atlas Air boasts the largest fleet of Boeing 747 freighter aircraft in the world, according to its website. Apollo Global is a buyout giant with approximately $500 billion in assets under management.

The Wall Street Journal reported on talks between Apollo and Atlas Air earlier Monday. Atlas Air shares rose 13%.

Atlas Air did not immediately respond to a request for comment.

Join now for FREE unlimited access to Reuters.com

Register

Reporting by Chibuike Oguh in New York Editing by Nick Zieminski

Our standards: The Thomson Reuters Trust Principles.

About Catherine Wilson

Check Also

Short-term stake in Veritex Holdings, Inc. (NASDAQ:VBTX) increases 33.3%

Veritex Holdings, Inc. (NASDAQ:VBTX – Get a rating) recorded a sharp increase in short-term interest …