Private equity consortium, Apollo each bid for Arconic


Private Equity

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A consortium that includes C$366.6 billion ($284 billion) Canada Pension Plan, Ottawa; Blackstone Group; Carlyle Group; and Onex Corp., in addition to a separate bid from Apollo Global Management, are vying to buy global technology, engineering and advanced aluminum parts manufacturing company Arconic, said people with knowledge of the situation.

Executives at Canada Pension Plan Investment Board, Toronto, which manages CPP’s plan assets, Onex and Apollo could not be reached for comment. Carlyle spokesman Christopher W. Ullman and Blackstone spokesman Matt Anderson declined to comment.

Arconic has a market capitalization of about $10.8 billion. If the current Carlyle and Blackstone-led consortium succeeds, it would give Arconic an enterprise value of $18.3 billion, according to PitchBook.

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