Onex Partners announced Monday the sale of Emerald Holding Inc. (NYSE:EEX), of which it owns over 90% of the outstanding shares, to funds managed by Apollo (NYSE:APO), in a transaction that values Emerald at approximately US$1.5 billion.
Upon completion of the transaction, Emerald will cease trading on the New York Stock Exchange and become a private company owned by the Apollo Funds.
Onex Partners' investment in Emerald, a U.S.-based B2B event organizer, is held through Onex Partners III and Onex Partners V, both of which will receive full liquidity on their respective positions.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
Shares in Onex were down 0.85% in Canada on Friday.