ONEOK Closes $9 Billion Minority Equity Investment with Apollo
ONEOK has closed the previously announced $9 billion minority equity investment by funds and affiliates managed by Apollo. Apollo's $9 billion buys a nonvoting Class B minority interest in newly formed holding company ONEOK Holdings, L.L.C., a stake that is structurally subordinate to ONEOK's debt. ONEOK's credit rating agencies reviewed the transaction, and all of them consider it credit-enhancing for the company.
Key figures
- Deal Value Usd
- 9000000000
- Aum as of
- June 30, 2026
- Structure
- newly formed holding company ONEOK Holdings, L.L.C., structurally subordinate to ONEOK's debt
- Apollo aum
- $1.05 trillion
- Stake type
- nonvoting Class B minority interest
AI analysis
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