Apollo Global Management Inc (APO) said Monday its managed funds signed definitive agreements to purchase Emerald Holding (EEX) and Questex to form a combined business events platform.

The company will pay $5.03 per share to acquire Emerald, assigning the target company an expected value of about $1.50 billion, the company said.

The buyout is expected to close in H2, depending on standard regulatory clearance and shareholder support, including a committed vote from majority owner Onex, Apollo said.

Following the completion of the transaction, Emerald will leave the public stock exchange and become a private business, it said.