Business1 min read

EasyJet shareholders approve £5.7 billion Apollo takeover

By · Published by Everything Blog

In short

Support from investors moves the British budget carrier toward ending its quarter-century tenure on the London stock market to become a private company. The multi-billion-pound transaction now pivots to European Union regulators, who must evaluate foreign ownership constraints before the acquisition can officially cross the finish line. Company leadership expects the buyout to conclude prior to the end of next year's first quarter. That timeline relies on clearing regulatory hurdles intended to block non-European investors from exercising effective control over the bloc's airlines.

Key points

  • European Union officials are preparing to scrutinize whether foreign ownership rules will…: European Union officials are preparing to scrutinize whether foreign ownership rules will impede the buyout transaction.
  • Completing the private takeover will officially terminate the airline's 25-year presence…: Completing the private takeover will officially terminate the airline's 25-year presence on the London stock market.
  • Strong shareholder approval successfully cleared the internal threshold needed to proceed…: Strong shareholder approval successfully cleared the internal threshold needed to proceed with the privatisation process.

Sources checked by our analysis pipeline: 1

The vote moves the deal a step closer to removing easyJet from the London stock market after more than 25 years, with the airline targeting completion before the end of the first quarter of next year.

EasyJet said 97.07% of scheme shares voted were cast in favour, with 83.29% of voting shareholders in support of the deal, clearing the threshold needed to take the budget airline private.

The deal, however, still faces regulatory scrutiny in the EU, where officials are preparing a review of airline ownership rules to prevent foreign investors from gaining effective control of carriers.

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