Global buyout major Apollo has agreed to back part of the incumbent local exchange carrier business of Lumen Technologies for $7.5bn, including debt assumption of approximately $1.4bn. The deal valued the company at around 5.5x of its 2020 estimated adjusted EBITDA.
The post Apollo to buy Lumen’s ILEC business for $7.5bn, 5.5x adjusted EBITDA first appeared on AltAssets Private Equity News.
