On Monday, sources said that Apollo discussed with investment banks to prepare an initial public offering (IPO) for EP Energy LLC. Last year, Apollo acquired EP Energy for US$7.5 billion.
Underwriters for the initial offering were not yet formally mandated. However, sources added that the company has asked investment banks to draw up plans for the possible IPO.
In the next few months, an initial filing with the US regulators is expected. Another source stated that the company could value more than US$8 billion.
Sources were left unnamed as the process is not yet public. They cautioned that Apollo has not yet arrived decision on the IPO timing. It could postpone the initial offering given market conditions become worsened.
In May 2012, Apollo completed its acquisition of EP Energy, an oil and gas company.
Apollo did not comment with said IPO report. EP Energy and Access industries were not available to respond.
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