SeattleDescription
Expedia Group, Inc. (NASDAQ: EXPE) announced today that it is raising approximately $3.2 billion of new capital, consisting of a $1.2 billion private placement of perpetual preferred stock and approximately $2 billion in new debt financing. These efforts are part of a comprehensive strategy to enhance Expedia Group's financial flexibility and strengthen its liquidity position. Investment funds managed by affiliates of Apollo Global Management, Inc. and Silver Lake, two of the world's leading alternative asset investors, are providing the equity investment. David Sambur, Co-Lead Partner of Apollo's private equity business, and Greg Mondre, Co-CEO and Managing Partner of Silver Lake, will join the Expedia Group Board of Directors upon the closing of the fund raising transactions, which is expected on May 5, 2020.