NEW YORK--(BUSINESS WIRE)--On August 29, 2016, affiliates of certain funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO) and Diamond Resorts International, Inc. agreed to further extend the offering period of Apollo’s previously announced cash tender offer to purchase all of the outstanding shares of common stock of Diamond Resorts for a period of two (2) business days. The tender offer, as previously extended, was scheduled to expire at 5:00 P.M., New York City time, on August 30, 2016. The expiration date of the tender offer is extended to 5:00 P.M., New York City time on September 1, 2016, unless further extended. Apollo and Diamond Resorts expect that the tender offer will be consummated promptly following the expiration date.
Continental Stock Transfer & Trust Company, the depositary for the tender offer, has advised Apollo that, as of 5:00 P.M., New York City time, on August 26, 2016, 43,586,915 shares of common stock of Diamond Resorts were tendered pursuant to the tender offer, which represented approximately 62.49% of the outstanding shares of common stock of Diamond Resorts. Stockholders who have already tendered their shares of common stock of Diamond Resorts do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the tender offer.
Okapi Partners LLC is the Information Agent for the tender offer and any questions or requests for the Offer to Purchase and related materials with respect to the tender offer may be directed to them, toll-free at (877) 629-6357.
Apollo (NYSE:APO) is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Singapore, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $186 billion as of June 30, 2016, in private equity, credit 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.