Money

Greensill Capital Planning to File for Insolvency in U.K. This Week

Greensill’s bank in downtown Bremen, Germany, in 2019.



Photo:

fabian bimmer/Reuters

Embattled financial startup Greensill Capital plans to file for insolvency in the U.K. this week, as it simultaneously moved toward a deal to sell its operating business to

Apollo Global Management,


APO -0.89%

according to people familiar with the matter.

The deal with Apollo, which could be struck by the end of the week, would be part of a Greensill insolvency, similar to the U.S. bankruptcy process, the people said.

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