EasyJet has formally agreed to a £5.7bn takeover by US private equity firm Apollo Global Management, the airline announced on Thursday after rival bidder Castlelake withdrew from the process. The company said it had accepted a firm offer following Castlelake’s decision to discontinue its pursuit of a competing bid.
The proposed transaction would take the carrier into private ownership under the terms offered by Apollo Global Management. The agreement sets out that completion will remain subject to customary conditions, including approval by shareholders and the receipt of any regulatory clearances required by competition and aviation authorities in relevant jurisdictions.
In issuing the statement, the airline did not disclose further financial detail beyond the headline consideration and the identity of the successful bidder. The move follows a formal bidding process that had drawn interest from multiple parties; with Castlelake stepping back, the board engaged with Apollo’s proposal and concluded it represented a firm path forward for an agreed sale.
Management and the board will now proceed with the next steps set out under UK corporate and takeover rules, including the provision of documentation to shareholders and a timetable for any required meetings or votes. Regulatory review procedures and the standard implementation conditions for a private equity acquisition will determine the precise timeline to closing.
