easyJet founder and largest shareholders support Apollo acquisition
easyJet founder Stelios Haji-Ioannou announced (06-Aug-2026) "Having carefully reviewed the proposal by Apollo, my family members and I have decided to support the recommended acquisition announced by the easyJet board", referring to the recommended cash acquisition by Apollo Global Management subsidiary Bidco of the entire issued and to be issued share capital of easyJet for GBP7.15 (EUR8.35) per share. Sir Stelios stated: "I am pleased with Apollo's strategic intentions for the easyJet business, which aim to create more growth", adding: "The fact that Apollo, as one of the most well-resourced and experienced institutional investors in the world, has decided to back and grow easyJet, the leading member of the easy family of brands, is testament to the strength of the easy brand and the business model of easyGroup Ltd". He clarified: "My family and I intend to remain invested as long-term major shareholders of easyJet for the next chapter in the company's journey". The LCC noted: "In aggregate, the Haji-Ioannou family concert party holds 116,065,871 easyJet shares, representing approximately 15.31% of easyJet's issued share capital" and confirmed that "the Haji-Ioannou family concert party together are the largest shareholders of easyJet and have provided irrevocable undertakings to [Bidco] to support the transaction and to elect for the unlisted share alternative in respect of their entire beneficial holdings of easyJet shares". [more - original PR]
Background ✨
easyJet’s board agreed terms with Apollo Global Management subsidiary Bidco for a recommended cash acquisition at GBP7.15 per share, valuing the equity at about GBP5.7 billion, with completion targeted by end-1Q2027 via a court-approved scheme of arrangement.1 Apollo and Bidco stated it did not intend material headcount reductions in the 12 months after completion, while Sir Stephen Hester said the offer was judged against standalone prospects.1 The board had earlier agreed in principle with Apollo after its offer topped Castlelake’s GBP6.90 per share approach, and it was no longer minded to recommend Castlelake.2 easyJet also previously said the Haji-Ioannou Concert Party fell below 30%, terminating the 14-Nov-2014 relationship agreement with easyGroup and Sir Stelios.3