In July, Athene announced that it, along with its strategic partner, Apollo Global Management Inc. (Apollo) (NYSE:APO), had agreed to acquire a 15% minority interest in Challenger Limited from an existing shareholder, 3% of which was subject to customary Australian Prudential Regulation Authority (APRA) approval.

Athene and Apollo have now received regulatory approval from APRA and today they will acquire the remaining 3%.

As described in Athene’s press release in July, when combined with other Challenger shares previously acquired by Athene and Apollo, the completion of this trade will result in Athene and Apollo’s economic ownership in Challenger being 18%.