Apollo Global Management LLC and a group of other big investors had black gold in mind when they acquired oil-and-natural-gas producer EP Energy Corp. in a leveraged buyout seven years ago. Instead, the debt-fueled deal has delivered black eyes.
Last month, EP warned in a securities filing that its ability to remain a going concern is in doubt because of a looming payment on some of the $4.25 billion of debt it shouldered to help Apollo and its partners buy the company for $7.15 billion. EP also wrote down the value of its...
e&ps in definite need of austerity compensation incentives based on increasing production and not profitability created a mess in the sector
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »