«We will remain shareholders in the private company that will arise after easyJet leaves the London Stock Exchange» says Sir Stelios Hadjiioannou in his announcement.
Apollo Global agreed with EasyJet for its acquisition against the $7.7 billion amount.
The news was confirmed by the US-based deputy asset manager, who announced the agreement after his withdrawal «rival awe» Castlelake from the claim of the company.
EasyJet's shares were raised by 3.1% on the London Stock Exchange after Castlelake's withdrawal, which made clear the definitive path to its acquisition by Apollo Global Management.
The completion of the acquisition is expected by the end of the first quarter of 2027. Earlier in her announcement Castlelake, to the London Stock Exchange, said that after careful consideration, she does not intend to make an offer to buy EasyJet. This announcement led EasyJet to a fall of over 6% before recovering.
Under the terms of the agreement, EasyJet investors will be entitled £7.15 per share (9.63), which represents 54% of the closing price on 27 February, the last working day before the start of the Iran-US war. According to Bloomberg, this acquisition is likely to reverse the dynamics in Europe's highly competitive market for low-cost airlines.
The announcement of Sir Stelios Hadjiioannou
Right after the news, Owner of EasyJet, sir Stelios Hadjiioannou issued a notice confirming the acquisition.
«After careful consideration of Apollo's proposal, my family and I decided to support the proposed takeover, as announced by the Management Board of easyJet. At the same time, we will remain shareholders in the private company that will arise after easyJet leaves the London Stock Exchange» says Sir Stelios Hadjiioannou in his announcement.
THE owner of easy JetHe completed in his announcement that «the starting point for the creation of easy family of brands began in 1994, when, at the age of 27, I started easyJet, the first of the brands of the easy family. In 2000 I went on to introduce easyJet plc to the London Stock Exchange, in order to ensure funding for the expansion of the company's fleet, which from 19 aircraft then numbers about 356 today. At the same time I made the strategic decision to maintain the ownership of the trademark easyJet through my private company, easyGroup Ltd. The ownership of easy family of brands has created for me a steady flow of revenue over the last 26 years, which I can now use to fund the charitable work of the Stelios Hatziioannos Charitable Foundation»
He also stressed that «I welcome the Apollo's strategic intentions for easyJet, which aim to create new growth prospects for the company. The fact that Apollo, one of the most powerful and experienced institutional investors worldwide, decided to support and invest in the development of easyJet, the leading member of easy family of brands, is a strong confirmation of the value of easy brand and the dynamics of easyGroup Ltd's business model. My family and I intend to maintain our position as important long-term shareholders of easyJet, supporting the next chapter of the company's course».
