Apollo Global in talks to acquire Altico; lenders to take a call on Oct 11

Apollo Global Management is in preliminary talks with lenders to buy troubled non-banking financial company (NBFC) Altico Capital, but lenders have decided to first finalise the quantum of haircut they would be taking, by October 11. 

Apollo, for now, has offered $150 million equivalent as primary equity for Altico, the troubled NBFC that defaulted unexpectedly in about mid-September. Altico was also in discussion with Cerberus Capital, KKR, Brookfield, Blackstone for a takeover of the company. 

The lenders will be signing an inter-corporate agreement soon and will invite bids from other investors as well. The lenders, meanwhile, have decided that they