JARO Group, a leading civil and cultural engineering group active in the ground, road, and water construction sector, has acquired BeKaBe Bekabeling B.V. (BeKaBe) as of September 30, 2024. BeKaBe conducts above-ground and underground cable projects for a variety of clients. With this acquisition, JARO Group expands its capacity in cable infrastructure, enabling the group to better serve its customers. JARO Group was supported in the acquisition by investor FIELDS Group, a partner that came on board in March 2024 to actively assist JARO Group in implementing its growth strategy.

Acquisition combines strengths and offers growth opportunities

“By adding their years of expertise, we strengthen our cable infrastructure capacity, where we are already active within the group through EZW Infra & Energie B.V. We look forward to building a shared future together with the BeKaBe team,” said Gerrit Kalkman from JARO. “The acquisition of BeKaBe aligns well with our strategy to be a leading multidisciplinary player in the ground, road, and water construction market,” added Fabianne Onderwater, Investment Director at FIELDS Group.

Mike Blansjaar from BeKaBe stated: “With this step, we secure the continuity of the company, BeKaBe can benefit from the advantages of the group, and it has a partner to facilitate further growth. A true win-win situation.”

About JARO Group

JARO Group is a multidisciplinary player in the ground, road, and water construction sector, active throughout the Netherlands. The group consists of several different companies: JARO (infrastructure/civil works, cultural engineering and dredging, emergency services, and winter maintenance), EZW Energie & Infra (infrastructure projects focused on underground cables and pipelines), CSW (civil engineering services for industry), Huijbregts Infra (infrastructure projects and cultural engineering work, particularly in the Brabant region), Reijm (cultural engineering work and landscaping), and HT Infra (active in infrastructure/civil engineering work), both active in the Rijnmond/Greater Rotterdam region.

www.jarogroup.com

About BeKaBe

BeKaBe Bekabeling was founded in 1996 and delivers cable work throughout the Netherlands from its office in Vlaardingen. The company specializes in above-ground and underground cable work, fiber optic and data networks, high voltage cable work, directional drilling, and earthworks.

www.bekabe.nl

About FIELDS Group

FIELDS Group is an entrepreneurial, hands-on investor focused on developing companies with potential. FIELDS Group invests in companies headquartered in the Benelux and DACH regions and realizes fundamental transformations with its team.

www.fields.nl

Largest independent infrastructure firm, with approximately $71.2 billion of assets under management, expands global platform

ABU DHABI & NEW YORK – September 18, 2024 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the opening of an office in Abu Dhabi, United Arab Emirates (UAE), having received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to arrange and advise on investments in the UAE. The firm plans to utilize its local presence to expand its network for potential investment opportunities, better serve its partners in the region, and continue to build key relationships.

Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak, said: “We are excited to establish our presence in Abu Dhabi, and specifically within ADGM, an increasingly important hub for the global investment management industry. This expansion reflects our deep commitment to Abu Dhabi and the broader Middle East, enabling us to work more closely with our partners and offer better access to Stonepeak’s global infrastructure platform.”

Arvind Ramamurthy, Chief of Market Development at ADGM, said: “ADGM is pleased to welcome Stonepeak to one of the world’s largest international financial centres and the region’s fastest-growing asset management hub. With robust regulations for alternative investment entities, a comprehensive ecosystem for asset management and a vibrant community based in the heart of the ‘Capital of Capital,’ Abu Dhabi, ADGM provides an ideal environment for Stonepeak’s regional expansion. We look forward to the unique offerings they will bring to their partners and investors in Abu Dhabi and beyond.”

In addition to its newly established presence in Abu Dhabi, Stonepeak employs more than 250 people in New York, Houston, London, Hong Kong, Seoul, Singapore, Sydney, and Tokyo. The firm manages approximately $71.2 billion in assets on behalf of its partners.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $71.2 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, London, Hong Kong, Singapore, Sydney, and Abu Dhabi. For more information, please visit www.stonepeak.com.

Contacts
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

• Apollo Funds to become a non-controlling shareholder in bp Pipelines TAP Limited, an entity which holds a 20% stake in Trans Adriatic Pipeline AG
• Provides Apollo exposure to a top energy asset; allows bp to unlock near-term value and capital for efficient reallocation
• Separately, bp and Apollo are exploring greater strategic cooperation, including energy transition opportunities

bp (NYSE: BP, LSE: BP.L) and Apollo (NYSE: APO) today announce an agreement for Apollo-managed funds (the “Apollo Funds”) to purchase a non-controlling stake in bp Pipelines TAP Limited, the bp subsidiary that holds a 20% share in Trans Adriatic Pipeline AG (TAP) in a transaction valued at approximately $1 billion. Upon completion, bp will remain the controlling shareholder of bp Pipelines TAP Limited.

Trans Adriatic Pipeline AG is the owner and operator of a key infrastructure asset for meeting European energy demand – the final 880-kilometre leg of the Southern Gas Corridor pipeline system that transports natural gas from the bp-operated Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea to markets in Europe such as Greece and Italy.

bp and Apollo will also look to partner on additional investment opportunities, including potential co-operation in both gas and low carbon energy assets, and infrastructure.

William Lin, bp EVP gas and low carbon energy: “We are very pleased to come together with Apollo on this key piece of Europe’s energy infrastructure. Importantly, while bringing in a new investor, this does not diminish bp’s role in a strategic asset for our Azerbaijan gas business. We see great potential in building innovative arrangements such as this and look forward to continuing to explore further opportunities with Apollo through growing this collaborative relationship.”

Skardon Baker, Apollo Partner: “We are pleased to partner with bp on an agreement that can provide our investors with long-term exposure to an industry-leading infrastructure asset with a stable cash flow profile, while allowing bp to meet its objectives of retaining control and executing on its capital efficiency strategy.”

Leslie Mapondera, Apollo Partner: “This innovative transaction structure is indicative of the types of bespoke solutions we can provide at Apollo, and we believe we are ideally positioned to execute on additional strategic transactions with bp. Together, we see more potential opportunities, as we look to leverage Apollo’s long-term capital and sustainability & infrastructure investment expertise to partner with bp on its strategic plans, including energy transition opportunities.”

The proceeds from the transaction will contribute to bp’s 2024 divestment and other proceeds target of $2-3 billion, part of the company’s disciplined financial frame. The transaction is expected to close in 4Q 2024, subject to customary regulatory and partner approvals required.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2024, Apollo had approximately $696 billion of assets under management. To learn more, please visit www.apollo.com.

About bp

Visit www.bp.com

Cautionary statement

In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’) and the general doctrine of cautionary statements, bp is providing the following cautionary statement.

This document contains certain forecasts, projections, forward-looking statements and expectations in relation to the completion of the transaction described, including the outcome and timing of regulatory and partner approvals – that is, statements related to future, not past events and circumstances – with respect to the financial condition, results of operations and businesses of bp and certain of the plans and objectives of bp with respect to these items. These statements are generally, but not always, identified by the use of words such as ‘will’, ‘expects’, ‘is expected to’, ‘targets’, ‘aims’, ‘should’, ‘may’, ‘objective’, ‘is likely to’, ‘intends’, ‘believes’, ‘anticipates’, ‘plans’, ‘we see’ or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will or may occur in the future and are outside the control of bp. Actual results or outcomes, may differ materially from those expressed in such statements, depending on a variety of factors, including the risk factors discussed under “Risk factors” in bp’s most recent Annual Report and Form 20-F as filed with the US Securities and Exchange Commission and in any of our more recent public reports.

Our most recent Annual Report and Form 20-F and other period filings are available on our website at www.bp.com, ‎or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.‎

Contacts 

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com / EuropeanMedia@apollo.com