EasyJet Acquired by US Firm Apollo in £5.7bn Deal

The deal, valued at £7.15 a share, is expected to be completed by the end of March 2027.

This acquisition follows rival suitor Castlelake walking away from a bidding war for the airline.

Castlelake withdrew its attempted acquisition, which saw EasyJet's share price drop 10% on the news before rebounding to 3% up from the start of the day.

EasyJet founder Sir Stelios Haji-Ioannou and his family will retain their shareholding.

Sir Stelios stated, "My family and I intend to remain invested as long-term major shareholders of easyJet for the next chapter in the company’s journey."

Sir Stelios also expressed his satisfaction, stating, "I am pleased with Apollo’s strategic intentions for the easyJet business, which aim to create more growth."

Apollo will be limited to 49.9% ownership.

An "EU Trust" shareholding group will retain up to 5% to comply with EU foreign ownership rules.

Sir Stephen Hester, speaking for the EasyJet board, confirmed, "The easyJet board has carefully evaluated the proposal from Apollo alongside easyJet’s standalone prospects."

He added, "While we remain confident in the strength of our business and the opportunities ahead, we believe this offer appropriately recognises the quality of the business we have built and delivers immediate, certain and attractive value for shareholders."

Apollo believes the airline is “one of the most attractive businesses” in the global aviation sector.

Alex van Hoek of Apollo stated, "We are proud to be trusted to play a lead role supporting the easyJet Group in this next phase of its growth and furthering its important contribution to the European and UK aviation sector."

Apollo also owns The Restaurant Group, which operates Wagamama, adding to its diverse portfolio.