Apollo to invest £4.5bn in EDF's UK energy projects
Asset manager Apollo has announced that its managed affiliates, funds and strategic accounts will invest up to £4.5bn ($6.04bn) in fixed-rate callable notes issued by Électricité de France (EDF).
EDF is issuing the notes as part of its €50bn Euro Medium Term Note (EMTN) programme.
The proceeds from the investment will be directed primarily into financing EDF's operations in the UK, including the Hinkley Point C nuclear power station.
The deal is one of the largest sterling-denominated note issuances on record.
It reinforces Apollo's long-standing history with French entities, in which it has been actively investing for nearly three decades.
Apollo Partner Jamshid Ehsani stated: 'Apollo is pleased to provide this bespoke, large-scale financing to EDF in support of its vital role in advancing European energy sovereignty and power infrastructure, including in the UK.'
'This landmark transaction highlights our deepening partnership with the French government and EDF and reaffirms our commitment to being a premier capital provider to leading European companies. This is the largest-ever capital funding transaction executed by EDF and the largest private credit transaction in the sterling market.'
Legal aspects of the transaction were handled by Latham & Watkins and Kirkland & Ellis representing Apollo, while BNP Paribas offered financial advice and Hogan Lovells provided legal counsel to EDF.
Sructuring and arrangement services for the transaction are being facilitated by Apollo Capital Solutions Europe, further strengthening their role in shaping large-scale investments within the power industry.
In December 2024, the Hinkley Point C nuclear facility successfully installed the UK's first new nuclear reactor in more than 30 years.
"Apollo to invest £4.5bn in EDF's UK energy projects" was originally created and published by Power Technology, a GlobalData owned brand.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
36 minutes ago
- Business Wire
Dxcover Launches US Operations to Commercialize Its AI-Powered Multiomic Cancer Detection Test
NASHVILLE, Tenn.--(BUSINESS WIRE)--Dxcover, a UK-based company improving early cancer detection with its AI-powered multiomic technology, announced today the launch of its United States headquarters in Nashville, Tennessee. The move reflects Dxcover's commitment to commercializing its PANAROMIC™ cancer test in the world's biggest life sciences market. "The launch of our U.S. headquarters in Nashville represents a major value-building milestone for Dxcover as we accelerate our mission to make early cancer detection accessible everywhere." Matthew J. Baker, Ph.D., CEO and Co-founder of Dxcover Share Dxcover's innovative Drop. Dry. Detect. ™ approach offers a cost-effective, high-throughput, non-invasive cancer screening platform. The new facilities will allow the company to forge partnerships with local biotech and healthcare organizations, advance local manufacturing of its innovative infrared spectroscopy platform and serve as a research and development hub aimed at extending Dxcover's leadership in cancer diagnostics innovation. Matthew J. Baker, Ph.D., CEO and Co-founder of Dxcover said: "The launch of our U.S. headquarters in Nashville represents a major value-building milestone for Dxcover as we accelerate our mission to make early cancer detection accessible everywhere. 'Nashville is well known for its dynamic business environment in the healthcare field and we look forward to collaborating with research institutes, health organizations, and biotech start-ups to promote precision medicine and enhance early cancer detection solution access. Organizations such as Life Science Tennessee and BioTN are vital to the enhancement of life sciences innovation, and Dxcover is eager to be an active member of this growing collective.' Dxcover's PANAROMIC™ technology is transforming cancer screening through a multiomic approach through infrared spectroscopy and AI-driven spectral analysis. Unlike genetic-marker-based tests, Dxcover's platform captures the complete biological signature from a tiny blood sample, enabling earlier diagnosis and better patient outcomes. The technology is scalable and already demonstrated proof-of-concept in various forms of cancer, including brain, colorectal, lung, and pancreatic cancers. Dxcover aims to bring high-tech diagnostics to underserved populations, enhancing global healthcare equity. About Dxcover Limited Dxcover's proprietary PANAROMIC™ Platform shines light on the difficulty of early cancer diagnosis. By utilizing a multiomic spectral analysis (MOSA-Dx™) approach to detect cancer, the platform can detect the presence of disease with minute volumes of liquid sample, with a turnaround time of one day. This technology goes beyond other liquid biopsy methods by harnessing the power of AI to capture the promise of the multiome, allowing early-stage detection of a range of solid tumors. Dxcover's unique AI algorithms are built on data; over 9000 patients and 250,000 spectra ensure robust diagnostic performance that can be tuned for high sensitivity or specificity. The test result is designed to be a valuable tool for clinicians to make rapid and appropriate patient management decisions. Dxcover's proprietary technology is patented globally. Dxcover's HQ is in Glasgow, UK, with their USA HQ located in Nashville, Tennessee. Dxcover's vision is to be the world leader in liquid biopsy and artificial intelligence in the early detection of cancer for better survival and quality of life. The mission is to deploy the Dxcover Platform for the triage of high-mortality and hard to diagnose cancers in high-risk populations, enabling access to value-based cancer care. For further information
Yahoo
41 minutes ago
- Yahoo
Ultimate Finance refreshes brand identity to boost growth
Asset-based lender Ultimate Finance has announced the launch of its updated brand identity as part of its growth plans. The UK-based company stated that since introducing its current business strategy and brand in 2020, it has achieved 'significant growth' in both its loan portfolio and market presence. Ultimate Finance's choice to invest in the brand supports its ongoing product and growth strategy. Ultimate Finance chief marketing officer Yvonne Balfour said: 'We are delighted to reveal our updated brand look and feel, showcased at the recent NACFB Commercial Finance Expo in Birmingham. 'This evolution of our brand better reflects our market position and meets the expectations of our broker network. In a crowded marketplace, it is vital for us to differentiate our proposition and be noticed. By developing our unique illustration style alongside our distinct brand colours, early feedback has demonstrated the significant impact the new look is already having.' The lender said it has reported 'strong' performance this year, with enhancements such as an increased maximum facility size for working capital and expanded asset finance securitisation. In Q1 2025, Ultimate Finance provided more than £62m ($84.4m) in new funding facilities. During the first three months of the year, the company offered more than 500 new facilities across its financial solutions, including asset finance, working capital, and bridging finance. Announcing the numbers in April, the company reported that asset finance alone reached a record monthly high, exceeding £10m. Later that month, Ultimate Finance expanded its asset finance securitisation facility with Lloyds Bank from £100m to £145m. Earlier this month, the company announced an increase in its maximum invoice finance facility size from £7m to £10m. Ultimate Finance stated that this enhancement in its working capital offering will enable it to continue building a presence in the market for larger deals and ensure it provides a competitive, distinct, and wide-ranging solution offering. "Ultimate Finance refreshes brand identity to boost growth " was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Forbes
an hour ago
- Forbes
Jeff Bezos' Marries Lauren Sanchez This Week: What We Know About Venice Extravaganza
Amazon founder Jeff Bezos and former journalist Lauren Sánchez will reportedly get hitched this week in what is expected to be an opulent and controversial ceremony hosted in Venice, Italy, though few details about the multi-day celebration are known and protests threaten to disrupt the billionaire's plans. Bezos and Sánchez will reportedly tie the knot this month. (Photo by Taylor Hill/FilmMagic) FilmMagic Many details reported about the wedding are speculative, though Venice mayor Luigi Brugnaro confirmed the event will take place in the floating city, telling Italian daily newspaper Corriere della Sera the wedding 'will have economic repercussions worth millions of euros for our city.' The wedding will be a 'multiday celebration' that will cost millions of dollars according to The Wall Street Journal, and some reports indicate celebrations could begin as soon as Tuesday. Forbes has reached out to Bezos for comment. Get Forbes Breaking News Text Alerts : We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text 'Alerts' to (201) 335-0739 or sign up here . Where Will Jeff Bezos And Lauren Sánchez's Wedding Take Place? It's unclear where exactly the wedding will take place, and CNN reported planners have secured multiple venues so plans can stay fluid in case protesters or inclement weather disrupt the celebration. The Journal reported Bezos and Sánchez may get married on a Venetian island. The geography of the small city is spread out across over 110 small islands, with the historical center taking up approximately two square miles. However, a spokesperson for Brugnaro told CNN in March the wedding will take place on Bezos' $500 million superyacht known as the Koru. The Koru is a 417-foot sailing yacht, the second-largest of its kind in the world, meaning it would need to be anchored away from Venice's Grand Canal due to its size. Conversely, 'No Space for Bezos,' a local group protesting the event, has said the wedding will take place in the historic Church of the Abbey of Misericordia, according to the BBC. TMZ reported on Monday another possible wedding venue the couple has secured is the Fondazione Giorgio Cini, a cultural center on the San Giorgio Maggiore island. Some locals in Venice, which has dealt with overtourism that has strained the city's infrastructure and services for years, have staged protests over concerns the wedding's scale will worsen some of the issues created by excessive tourist crowds. Activists have organized a 'No Space for Bezos' campaign opposing the wedding, posting banners and stickers throughout the city. Federica Toninelli, a Venetian activist with 'No Space for Bezos,' told Reuters the wedding is also a 'symbol of the exploitation of the city by outsiders.' Protesters have threatened to block access to canals and city streets in an effort to block wedding attendees from reaching party venues in the city, according to Variety. Oliviero Cassarà, a lead organizer and activist, said in a statement 'No Space for Bezos' has zero issue with Americans or people getting married in Venice, instead criticizing Bezos for his links to Trump and blasting the president's controversial trade policies. 'Bezos supported Trump economically and politically and is consequently co-responsible for this drift against us Italian and European citizens,' Cassarà said. Brugnaro has spoken out against the protesters and tried to reassure them the city is capable of handling the event, citing its hosting of the Venice Film Festival and G7 Summit. Brugnaro said he was 'ashamed of those who behave like this,' Variety reported. Protest organizers have criticized Brugnaro, insisting demonstrations will be peaceful. On Monday, the Greenpeace environmental activist organization joined 'No Space for Bezos' in Venice's St. Mark's Square, unveiling a banner with Bezos' face that read: 'IF YOU CAN RENT VENICE FOR YOUR WEDDING YOU CAN PAY MORE TAX.' Police quickly took the banner away, the Associated Press reported. Protesters also plan to block access to the Scuola Grande della Misericordia, where they believe Bezos will hold one of his wedding parties, and other unspecified protests are planned, The Guardian reported. Protesters have also installed life-size mannequins of Bezos around the city, including one in which the body is covered with dollar bills, and another that holds a bloody sign that says, 'Just Married.' How Many People Are Attending The Wedding And Who Is On The Guest List? Venice officials have said the guest list for Bezos and Sánchez's wedding is limited to 200 people. It is not known for certain who will be attending the wedding, but TMZ reported a handful of celebrities received invites including Eva Longoria, Katy Perry and Orlando Bloom, Oprah Winfrey, Gayle King, Kris Jenner, Kim Kardashian and Jewel Kilcher, noting Ivanka Trump and Jared Kushner, in addition to Karlie Kloss and husband Joshua Kushner also made the list. Mick Jagger, Jay-Z and Beyoncé and Gayle King may also attend, according to The New York Times. Many people on the purported list, such as Longoria and Perry, are friends with Bezos and/or Sánchez. Guests who attended Sánchez's bachelorette party in Paris in May included Jenner, Kardashian, Perry, Longoria, entrepreneur Elsa Marie Collins, philanthropist Natasha Poonawalla and Fox Sports host Charissa Thompson. TMZ reported Tony Gonzalez, a former NFL tight end and Sànchez's ex-boyfriend, with whom she has a son, will attend the wedding. When Is The Wedding? The wedding will take place from June 24 to June 26, CNN reported, citing Brugnaro's spokesperson, though some reports have claimed a June 26 to June 29 celebration. How Many Wedding Events Are Bezos And Sánchez Hosting? Bezos and Sànchez's multi-day celebration could span multiple parties, TMZ reported, citing anonymous sources who told the outlet the couple is planning three themed parties, including a pajama party. The couple was photographed on Bezos' Koru yacht on Sunday throwing a foam party, in which they and their friends were covered in foam bubbles while tossing around beach balls and swimming in the ocean. It's unclear whether the foam party was part of the wedding parties, or if it was a prelude to their wedding celebrations. Multiple reports have said the wedding will predictably cost millions of dollars. The Journal reported a luxury wedding with 200 guests such as Bezos' costs about $4 million, citing Jamie Simon, director of events at luxury planning firm Banana Split, which organized the multiday wedding between Sofia Richie Grainge and Atlantic Records CEO Elliot Grainge in 2023. Who Is Organizing The Bezos-Sánchez Wedding? The Journal reported Lanza & Baucina, a London-based group that planned George and Amal Clooney's 2014 wedding in Venice, has been hired by Bezos and Sánchez. A representative for the group told the Journal its principles and the instructions of Bezos call for the 'minimizing of any disruption to the city, the respect for its residents and institutions and the overwhelming employment of locals in the crafting of the events.' Forbes Valuation We estimate Bezos' net worth at $224 billion as of Tuesday, making him the fourth-wealthiest person in the world behind Mark Zuckerberg ($241 billion), Larry Ellison ($251 billion) and Elon Musk ($424 billion), Key Background Bezos and Sánchez met almost ten years ago and began making public appearances together around 2019, when the two began dating. They became engaged in 2023 aboard the Koru superyacht, with Bezos offering Sánchez a 30-carat cushion cut pink diamond set in platinum, according to Vanity Fair. The couple's upcoming wedding in Venice is not unprecedented, as the floating city also hosted the wedding of George and Amal Clooney in 2014, when the two tied the knot at the Venice Town Hall. The wedding had a generally positive perception, with locals lauding Clooney for his consideration and respect for Venice. Cassará even compared Bezos to Clooney in his statement, saying Bezos 'is not George Clooney with his romantic aura.' Venice Residents Protest Entry Fee For Tourists Amid Concerns City Will Turn Into A 'Theme Park' (Forbes)
