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Apollo Global to Sell Tower Operator Parallel to Palistar-Backed Company

Apollo Global Management Inc. agreed to promote wi-fi tower firm Parallel Infrastructure to a purchaser backed by Palistar Capital, which plans to make investments greater than $1 billion to develop the enterprise.

The deal would create one of many largest cellphone infrastructure corporations within the U.S., with greater than 2,000 websites both working or below development throughout 41 states, as soon as Parallel is mixed with developer Harmoni Towers LLC, New York-based Palistar mentioned. Palistar acquired Harmoni in June 2020.

The…

Related Topics:acquisitions Acquisitions/Mergers Acquisitions/Mergers/Shareholdings Alternative Investments APO Apollo Apollo Global Management Apollo Infrastructure Opportunities Fund II C&E Industry News Filter Company construction Content Types corporate Corporate Actions corporate strategy Corporate Strategy/Planning Corporate/Industrial News Digitalization Divestments Factiva Filters Financial Services financial vehicles funds general news Global Harmoni Towers industrial news investing Investing/Securities mergers Omar Jaffrey Operator Ownership Changes Palistar Capital PalistarBacked Parallel Parallel Infrastructure Physical Asset Transactions planning political Political/General News Private Equity PRO Real Estate real estate services Real Estate Services/Transactions Real Estate/Construction securities sell shareholdings Tech Telecommunication Services Tower transactions trusts Trusts/Funds/Financial Vehicles WSJ-PRO-PE

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