US buyout firm Apollo to buy ClubCorp for $1.1B

WASHINGTON — Apollo Global Management has agreed to purchase ClubCorp, which owns more than 200 golf and country clubs, for $1.1 billion.

Apollo, a private equity firm, said Sunday that it would pay $17.12 per share in cash, a 30.7-percent premium over the company’s closing share price Friday.

Apollo owns sports and business clubs, with a combined total of 430,000 members.