Apollo agrees £5.7 billion takeover of easyJet as Castlelake walks away

Apollo Global Management has reached an agreement for a recommended all-cash acquisition of easyJet, establishing a valuation of roughly £5.7 billion for the low-cost carrier. This deal represents a significant shift in the aviation landscape following initial interest from Castlelake. The transaction is currently considered recommended by Apollo, indicating their confidence in the proposed terms. Discussions surrounding the takeover were initially led by Castlelake but ultimately they withdrew their bid. AeroTime reports that this marks a pivotal moment for both companies and the broader travel industry.