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Apollo successfully completes acquisition of Parallel Petroleum Corp.
Parallel Petroleum Corp and PLLL Holdings LLC, an entity formed for the purpose of acquiring Parallel Petroleum Corp (Parallel Petroleum), announced the successful completion of the merger of PLLL Acquisition Co with and into Parallel Petroleum, with Parallel Petroleum surviving the merger. On 15 Sep 2009, Parallel Petroleum announced that it had entered into a definitive agreement to be acquired by an affiliate of Apollo Global Management LLC, a leading global alternative asset manager. The aggregate value of the transaction is approximately $483 M. At the time of the merger, all outstanding shares …
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