British low‑cost carrier EasyJet has agreed to a £5.7bn takeover by US investment firm Apollo after the rival bidder Castlelake withdrew its bid.
EasyJet, Europe's largest low‑cost airline, employs more than 19,000 staff and flies around 1,200 routes across 35 European countries.
The deal values the company at £7.15 per share, a premium over the price offered by Castlelake, and will give Apollo a majority stake.
Apollo said it is highly supportive of EasyJet's current strategy and sees a significant opportunity to accelerate the group's operational and commercial ambitions.
Founder Sir Stelios Haji‑Ioannou, who still owns about 15% of shares, welcomed the takeover, saying the family will remain invested as long–term major shareholders.
EasyJet CEO Kenton Jarvis welcomed Apollo's commitment, noting the firm's aviation experience would make it a strong partner for the airline.
The takeover follows a period of uncertainty since late May, when Castlelake indicated interest and later withdrew after EasyJet rejected initial approaches.
