Apollo Global Management, LLC (NYSE:APO) is in exclusive negotiations to purchase Companhia de Seguros Tranquilidade, S.A. for approximately €200 million, reported SNL European Financials Daily citing Reuters reports which cited a source close to the transaction. Apollo would invest about €140 million into Tranquilidade, formerly controlled by Espirito Santo Financial Group SA, and pay the remaining consideration to Novo Banco, S.A., which is now the formal owner of Tranquilidade. According to the report, the deal is expected to be finalized in the next two weeks.

A Novo Banco spokesman said that the issue of a Tranquilidade sale has not been closed yet.