Key Takeaways
- • EasyJet shareholders approved Apollo Global Management's £5.7bn takeover, with 97.07% of scheme shares voted in favour and 83.29% of voting shareholders backing the proposal, according to Reuters.
- • The buyout is expected to complete before the end of Q1 2027, ending more than 25 years of EasyJet trading on the London Stock Exchange.
- • EU airline ownership rules requiring majority EU ownership present a regulatory hurdle, as EU persons held 35.07% of EasyJet shares at the time of the vote.
- • EasyJet has suspended voting rights for certain non-EU investors to comply with existing regulations.
- • Employee unions have voiced concerns about the deal's potential impact on the airline's financial resilience.
Summary
EasyJet shareholders have approved the airline's £5.7bn takeover by Apollo Global Management, clearing a major hurdle in one of the largest private equity buyouts of a European airline, according to Reuters. The transaction reportedly received support from 97.07% of scheme shares voted, with 83.29% of voting shareholders backing the proposal. EasyJet expects the acquisition to complete before the end of Q1 2027, which would end more than 25 years of trading on the London Stock Exchange.
The deal still faces regulatory challenges in the European Union, where airline ownership rules require majority EU ownership. EasyJet said EU persons held 35.07% of its shares at the time of the vote. To comply with existing regulations, the airline has suspended voting rights for certain non-EU investors.
The acquisition has also drawn opposition from employee unions, which have raised concerns about its potential impact on the airline's financial resilience.
The transaction follows a series of take-private deals involving London-listed companies, as US private equity firms continue to capitalise on valuation discounts in UK equity markets.
The deal still faces regulatory challenges in the European Union, where airline ownership rules require majority EU ownership. EasyJet said EU persons held 35.07% of its shares at the time of the vote. To comply with existing regulations, the airline has suspended voting rights for certain non-EU investors.
The acquisition has also drawn opposition from employee unions, which have raised concerns about its potential impact on the airline's financial resilience.
The transaction follows a series of take-private deals involving London-listed companies, as US private equity firms continue to capitalise on valuation discounts in UK equity markets.
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