US Castlelake Looking at MSC Shipping Giant as Partner for easyJet Bid, Report Says
Castlelake is weighing a bid above 403.23 pence per share and may team with MSC to satisfy EU ownership rules.
- On Thursday, investment firm Castlelake reportedly identified Swiss-based MSC as a potential partner for a takeover bid of British budget airline EasyJet, according to Corriere della Sera.
- Castlelake confirmed last week it was considering an offer for the carrier, though it faces a June 26 deadline under takeover rules to formalize the bid or walk away.
- Partnering with the shipping group would help Castlelake ensure the proposed bid complies with EU ownership regulations, according to reports citing sources with knowledge of the discussions.
- A combination with EasyJet would allow MSC to control the entire leisure travel chain, from flights to cruise ships, mirroring German travel group TUI's integrated model.
- MSC operates container shipping, logistics, terminals, and cruise lines; it also owns a 49% stake in Italian high-speed rail operator Italo, while EasyJet maintains its own holiday package business.
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According to a report, the financial investor Castlelake is reviewing a joint offer for the British low-cost airliner. The family behind MSC has been looking for a way into the aviation business for a long time.
Castlelake looking at MSC as partner for EasyJet bid
US investment firm Castlelake is looking at MSC, the world's largest shipping group, as a partner in a consortium for a potential takeover bid on British budget airline EasyJet, Italian daily Corriere della Sera reported today.
US Castlelake looking at MSC shipping giant as partner for easyJet bid, report says
ROME, June 4 (Reuters) – U.S. investment firm Castlelake is looking at MSC, the world’s largest shipping group, as a partner in a consortium for a potential takeover bid on British budget airline easyJet, Italian daily Corriere della Sera reported on Thursday. Castlelake said last week it was in the early stages of considering a possible offer for easyJet that would be over 403.23 pence per share, though no approach has been made to its bo…
On Monday, the British low-cost company's title came up abruptly after Castlelake's announcement of a potential buy-back. Under pressure from kerosene costs, the company saw its net loss worsen by 27% in the first half of the yearAs aviation is going through a new turbulent zone, EasyJet's action flew away by 12% Monday morning in London. This sudden increase in the low-cost company's title is not due to an exceptional performance in this troubl…
In addition to a US investment company, the Geneva shipping giant MSC is now also being traded as a potential co-buyer. For the Aponte family, it would not be the first attempt to buy the cheap airline.
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