Investment funds affiliated with Apollo Global Management, LLC (collectively with its subsidiaries, “Apollo”) (NYSE: APO) announced on Friday, March 22, 2013, the closing of the previously announced purchase of the McGraw-Hill Education business of The McGraw-Hill Companies, Inc. (“McGraw-Hill”) (the “Transaction”). Among the interests acquired from McGraw-Hill is an indirect interest in McGraw-Hill Ryerson Limited (“Ryerson”) (TSX: MHR), which is a publicly traded Canadian subsidiary of McGraw-Hill. The 1,400,000 of common shares of MHR acquired represent approximately 70% of the outstanding common shares of Ryerson and Apollo’s total beneficial interest in Ryerson.
Apollo purchased the securities as part of the Transaction and may or may not purchase or sell securities of Ryerson in the future on the open market or in private transactions, depending on market conditions and other factors to the extent permitted by applicable law and regulation.
This news release is being issued under the early warning provisions of Canadian securities legislation. For a copy of the early warning report filed in connection with this news release, please contact the following:
|Apollo Management Holdings GP, LLC|
|Attn.: Gary M. Stein|
|9 W. 57th Street, 43rd Floor|
|New York, New York 10019|
|Tel: (212) 515-3200|
About Apollo Global Management, LLCApollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of approximately $113 billion as of December 31, 2012 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.