Sir Stelios Haji-Ioannou, the founder of easyJet, has confirmed that he and his family will support Apollo Global Management’s proposed acquisition of the airline.
The endorsement is a critical development in the takeover battle, as the founder’s backing significantly increases the likelihood of the deal closing and the subsequent delisting of the British low-cost carrier from the London Stock Exchange.
6 billion). The agreement marks a decisive end to a protracted contest for control of the airline, which had previously seen US investment firm Castlelake emerge as a rival bidder.
Apollo agreed to acquire easyJet in a transaction valued at £5.7 billion (approximately €6.6 billion).
The agreement marks a decisive end to a protracted contest for control of the airline, which had previously seen US investment firm Castlelake emerge as a rival bidder.
Castlelake’s offer had positioned Haji-Ioannou to realize a personal gain of approximately £800 million, but the founder’s current support for Apollo suggests a shift in the strategic direction of the deal.
The move to take easyJet private reflects broader trends in the European aviation sector, where private equity firms are increasingly targeting established carriers to streamline operations and pursue long-term restructuring without the pressure of quarterly public market reporting.