en.Wedoany.com Reported - On August 10, the UK Civil Aviation Authority confirmed it has engaged with relevant parties regarding Apollo Global Management's acquisition of easyJet, with regulatory review focusing on whether the post-transaction ownership and control structure complies with UK aviation regulations. The deal is valued at approximately £5.7 billion, and easyJet's board has recommended shareholders support it, though it remains subject to shareholder and multi-jurisdictional regulatory approvals.

Apollo's Eagle Bidco reached a recommended cash acquisition agreement with easyJet on August 6, proposing to acquire all of the latter's issued and to-be-issued ordinary shares at £7.15 per share. The offer represents a premium of approximately 81% over easyJet's closing price before the offer period commenced. Upon completion of the transaction, easyJet will become a privately held company. US investment firm Castlelake, which had previously participated in the bidding, has withdrawn.

The UK Civil Aviation Authority stated that easyJet UK holds a UK air operator's certificate, and both parties to the transaction must demonstrate that the new ownership and control arrangements comply with relevant regulatory requirements. Apollo has committed that it will not change the location or functions of easyJet's UK headquarters following the transaction's completion, nor will it adjust the structure of its air operator's certificates held in the UK, Austria, and Switzerland.

The proposed ownership structure caps Apollo funds' shareholding at 49.9%. Existing shareholders who choose to retain their stakes are expected to hold between 45.1% and 49.9% of the new holding company, with an EU trust holding up to 5%. Founder Haji-Ioannou family, which holds approximately 15.31% of easyJet's shares, has committed to supporting the transaction and plans to convert its existing holdings into unlisted shares of the new holding company.

The transaction also requires at least 75% voting support at easyJet's general meeting, along with merger clearance approvals in markets including the UK, Germany, Austria, and Egypt, as well as foreign investment approvals in countries such as the UK, France, Italy, and Spain. Following court approval of the scheme and completion of all regulatory procedures, the parties expect to close the acquisition by the end of the first quarter of 2027.