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HMV lenders plan block on potential Apollo Global Management bid - report

Tom Pakinkis
HMV

HMV lenders plan to block efforts from US investment company Apollo Global Management to buy the retailer’s debt with a view to a full takeover potentially on the cards in future.

It was reported last month that Apollo had already taken on 10% (more than £20m) of HMV’s debt from Allied Irish Bank with further acquisition movements predicted by analysts. 

HMV lenders, however, are said to be reluctant to sell their loans too cheaply and hopeful the retailer can survive without a takeover.

“There is a feeling among the banks that they have come this far, so let’s see it through,” a source told This Is Money.

Apollo, which many refer to as a ‘vulture fund’, already has almost £70bn of assets under management and a presence on the High Street. Its private equity arm bought jewelers Mappin & Webb towards the end of last year.

 

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Tags: HMV, Retail, High Street, Apollo Global Management

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