Shareholders approve: Apollo to buy easyJet for £5.7bn
Quick Look
- EasyJet shareholders have approved the company's £5.7bn acquisition by US-based Apollo.
- Upon completion of the sale, the company will be delisted from the London Stock Exchange and become privately owned.
AI-generated summary
Why It Matters
EasyJet has been listed on the London Stock Exchange for over 25 years. The acquisition has the potential to be one of the largest private equity transactions in Europe.
EasyJet shareholders have approved the acquisition of the low-cost airline by US-based private equity firm Apollo for £5.7bn.
EasyJet announced that it aims to complete the sale transaction before the end of the first quarter of next year. Following shareholder approval, the transaction will be reviewed under the European Union's regulatory rules.
The transaction is set to be recorded as one of the largest private equity acquisitions of an airline company in Europe.
According to EasyJet's statement, 97.07 percent of the shares represented in the voting were voted in favor of the agreement. 83.29 percent of voting shareholders also supported the agreement. Thus, the approval threshold required for the company to be delisted and transferred to private ownership was exceeded.
If the acquisition is completed, easyJet will leave the London Stock Exchange, where it has been listed for more than 25 years.
What to Watch
AI outlook — possibilities, not facts
Completion of the sale transaction before the end of the first quarter of next year.
Likely · Within months
Open Questions
- Will the acquisition be approved by EU regulators?
- Will there be a change in the management structure of the company?
