EasyJet has agreed to a £5.2 billion takeover by a consortium led by American financial institution Castlelake, with the board accepting a sweetened offer of 690 pence per share. The deal values the low-cost airline at £5.2 billion and follows weeks of negotiations, with Castlelake’s winning bid being its fifth offer. Under the terms, Castlelake will hold a 49% stake, while Brookfield Asset Management and former easyJet operations chief Peter Bellew, along with Irish airline executive Mark Breen, will own the remaining 51%, a structure designed to comply with EU ownership rules. Founder Sir Stelios Haji-Ioannou, a major shareholder, has yet to publicly back the deal, though one City analyst described the price as good value. The consortium has until August 3 to finalise the paperwork.
EasyJet PLCEasyJet is the target of a £5.2bn takeover at 690p per share, a premium to prior trading.
Brookfield Asset Management Ltd.Brookfield is part of the acquiring consortium, gaining a stake in EasyJet.
Castlelake leads the consortium acquiring a 49% stake in EasyJet.