Apex said it would assume Paramount’s debt totaling approximately $15.8 billion and pay the $400 million breakup fee to the Skydance investor group. Apex also committed to investing approximately $10 billion into Paramount’s working capital post-closing as part of Apex’s business plan for the company. The investment company said its offered purchase price is “contingent on Paramount retaining all its assets through closing (i.e., direct and indirect subsidiaries, affiliates, and material contracts).”
In its offer, Apex “emphasized that its priority in this transaction was to minimize personnel disruption and, to the extent possible, preserve Paramount’s existing workforce, whose efforts will be required to implement Apex’s business plan,” the company said.
Apex Capital Trust is a “multinational holding company and a qualified institutional investor in key finance and fintech sectors,” the New York-based company says. Apex also has developed proprietary technology for phone-to-phone sharing of battery charge and remote phone recharging. In a related investment, Apex Trust has acquired 40% ownership of Simmtronics, a multinational technology company manufacturing phones and other electronic devices.