The British low-cost airline, easyJet, has accepted a takeover bid from the American investment fund, Apollo Global Management. The agreement values the company at approximately 6.66 billion euros. Following the withdrawal of rival bidder Castlelake, the company’s board of directors unanimously approved the acquisition offer.
Apollo’s proposal sets the purchase price at £7.15 per share, equating to a total valuation of roughly £5.7 billion. However, due to existing European Union regulations, Apollo cannot directly hold a stake exceeding 49.9% of easyJet’s shares. Consequently, a specialized ownership structure has been designed to ensure full compliance with European legislation.
Apollo Global Management has indicated its support for easyJet’s existing operational strategy. This support encompasses plans for fleet renewal and the continued expansion of the company’s package holiday business. The acceptance of the bid marks a significant financial development for the airline, involving assets valued in the billions.
The structure of the deal and its adherence to EU governance rules are central to the finalization of the acquisition. This move solidifies a major investment in the aviation sector, positioning easyJet under the stewardship of a large international financial group. The transaction underscores the ongoing strategic importance of the airline within the European travel market.
Topics: #billion #easyjet #euros
