Business
Easyjet to be acquired by investor Apollo for €6.6 billion
Easyjet will be acquired by Apollo Global Management for €6.6 billion, with support from founder Stelios Haji-Ioannou.
The British airline Easyjet is to be acquired by American investment firm Apollo Global Management for £5.7 billion, which amounts to approximately €6.6 billion.
Easyjet has been involved in a takeover battle for some time. In May, the American investment company Castlelake made a bid of £6.90 per share.
In July, Apollo Global Management joined the competition and made a higher bid of £7.15 per share.
According to reports, founder and major shareholder Stelios Haji-Ioannou has expressed support for Apollo's bid.
This acquisition comes at a time when Easyjet is trying to navigate challenges in the aviation industry.