EasyJet announced its acceptance of a takeover offer from Apollo Global Management, valuing the airline at £5.7bn. The transaction will proceed at £7.15 per share, a price point Apollo had presented last month. The agreement came after rival bidder Castlelake withdrew from pursuing its own acquisition, choosing not to engage in competitive bidding. The formal acceptance occurred just one day ahead of the deadline for final offer submissions from both parties.
Under the transaction structure, easyJet’s founder Stelios Haji-Ioannou and his family will maintain their stake in the company. Current shareholders have the option to either sell their shares or retain them under new ownership, with the ability to transfer up to a maximum of 49.9% of their holdings. An “EU Trust” shareholding arrangement will hold up to 5% of the company, a configuration apparently designed to satisfy European Union regulatory requirements governing foreign ownership of airlines. Apollo’s maximum stake has been capped at 49.9%.
Apollo has committed to preserving easyJet’s existing head offices in the United Kingdom and European Union and has pledged support for the airline’s strategic direction. The firm indicated it would facilitate long-term sustainable growth across the business. Company leadership expressed confidence in Apollo as a partner, citing its aviation sector expertise and backing of easyJet’s expansion objectives.
The transaction is anticipated to conclude by the end of March 2027. EasyJet’s equity market performance reflected investor sentiment regarding the outcome, with shares rising 3% on the day of announcement despite an initial 10% decline when news of Castlelake’s withdrawal surfaced.
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