One of many world’s largest funding teams is in talks to assist finance a £550m takeover of The Day by day Telegraph by the proprietor of The New York Solar.
Banking sources mentioned on Tuesday that the discussions have been preliminary in nature and may not result in an settlement.
Different debt suppliers are additionally in talks with Mr Efune, the sources added.
The event has emerged simply three days earlier than an exclusivity interval for the US-based businessman expires, though insiders say it’s virtually sure to be prolonged.
Apollo ranks among the many world’s largest monetary establishments and is a significant participant in each non-public fairness and personal credit score across the globe.
Within the final fortnight, a string of media stories have forged doubt on Mr Efune’s means to finish the deal, with potential lenders together with Oaktree Capital Administration and Hudson Bay Capital mentioned to have withdrawn from the method.
Apollo declined to remark.
