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EasyJet Shareholders Approve £5.7 Billion Apollo Deal
The vote backs a £5.7 billion deal that would take the budget airline private and remove it from the London stock market.
- On Wednesday, EasyJet shareholders approved the £5.7 billion takeover by US investment group Apollo, clearing a major hurdle for one of the largest private-equity buyouts of a European carrier.
- Founded by Sir Stelios Haji-Ioannou in 1995 as a low-cost alternative to British Airways, the airline expanded across Europe and listed on the London Stock Exchange more than 26 years ago.
- Voting results showed 97.07% of shares cast in favour, with 2.93% opposed, after US investment firm Castlelake withdrew a competing £5.5 billion proposal during the bidding war in August.
- The airline targets deal completion before the end of the first quarter of next year, moving EasyJet closer to exiting the London Stock Exchange after more than 25 years as a public company.
- European regulatory scrutiny remains a hurdle, as officials prepare a review of airline ownership rules designed to prevent foreign investors from gaining effective control of European carriers.
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Easyjet only flies to and from Copenhagen in Denmark. It is expected that they will only receive final approval for the change of ownership from the EU later.
·Copenhagen, Denmark
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EasyJet shareholders back £5.7bn Apollo takeover - London Business News
EasyJet shareholders have overwhelmingly approved the airline’s £5.7 billion takeover by US investment group Apollo, clearing a major hurdle in a deal that will end more than 26 years of… The post EasyJet shareholders back £5.7bn Apollo takeover appeared first on London Business News
The carrier, based on Luton airport (northern British capital), reported that 97.07% of the shareholders gave ‘green light' to the acquisition, while 2.93% voted against, following a meeting held this Wednesday.
·Lisboa, Portugal
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Total News Sources43
Leaning Left3Leaning Right5Center10Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 17%
C 55%
R 28%
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