AssetID: 55902825
Headline: UNCAPTIONED: EasyJet Agrees £5.7bn Takeover By Apollo
Caption: EasyJet Agrees £5.7bn Takeover By Apollo. EasyJet has agreed to a £5.7 billion ($7.7 billion) takeover by U.S. investment firm Apollo Global Management. The deal follows months of uncertainty for the airline as the aviation industry faces rising costs linked to the Iran conflict. EasyJet founder Stelios Haji-Ioannou backed the takeover after the airline's board unanimously recommended Apollo's offer. The board said the cash bid delivers immediate and attractive value for shareholders while recognising the strength of the business. Apollo said it plans to expand EasyJet's commercial strategy, including growing its fast-expanding holidays business under private ownership. Rival bidder Castlelake withdrew from the takeover race after Apollo's higher offer secured board support. The takeover is the latest in a series of London-listed companies being acquired by U.S. private equity firms. The deal could face regulatory scrutiny because EasyJet must remain majority-owned and controlled by EU interests to retain its flying rights within the bloc. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,EasyJet,Apollo Global Management,Stelios Haji-Ioannou,Castlelake,Stephen Hester,takeover,airline,aviation,United Kingdom,private equity,airlines,business,acquisition,travel,aviation industry
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