Did Aperam buy universal?
No, Apollo did not fully sell its stake in Challenger Limited. While the firm did conduct a significant block trade in September 2024—divesting approximately 70.6 million ordinary shares, which represented about 10.2% of Challenger’s issued capital—it retained a meaningful remaining interest in the company. Following this transaction, Apollo’s stake was reduced from approximately 20.12% to about 9.9%. The move was described as a capital redeployment strategy, and both companies have stated that they remain committed to their ongoing commercial and strategic partnership, suggesting that the stake was not intended to be entirely exited.
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