Apollo Capital Management, L.P. / Apollo
Apollo-managed funds agree terms for recommended cash acquisition of easyJet
Summary: A London Stock Exchange RNS announcement says the boards of Eagle Bidco Ltd and easyJet plc reached agreement on the terms and conditions of a recommended cash acquisition of easyJet by Bidco, a company indirectly owned by Apollo Funds managed by affiliates of Apollo Capital Management, L.P. The announcement states that the acquisition would be implemented by a scheme of arrangement, with a cash offer of £7.15 per easyJet share and an approximate £5.7 billion value for easyJet's entire issued and to-be-issued ordinary share capital.
Why it matters: The update may matter to due-diligence readers as a large public-company transaction signal involving Apollo-managed funds, but it should be read with the RNS status language and conditions intact and not as evidence that the acquisition has closed, become effective, received all approvals, or established any fund-level economics or investment outcome.
Summary
A London Stock Exchange RNS announcement released on August 6, 2026 says the boards of Eagle Bidco Ltd and easyJet plc reached agreement on the terms and conditions of a recommended cash acquisition of easyJet by Bidco. The same announcement describes Bidco as a company indirectly owned by Apollo Funds managed by affiliates of Apollo Capital Management, L.P., together with Apollo Global Management, Inc. and its subsidiaries.
The RNS says the acquisition is intended to be implemented by a scheme of arrangement under Part 26 of the Companies Act 2006. It states that the cash offer is £7.15 per easyJet share and values easyJet’s entire issued and to-be-issued ordinary share capital at approximately £5.7 billion.
A separate LSE RNS from easyGroup Holdings Ltd says the Haji-Ioannou family concert party provided irrevocable undertakings to support the transaction and elect for the unlisted share alternative for its beneficial holdings, subject to the stated ADS carve-out. This draft treats those undertakings as source-attributed transaction-support context, not as evidence that the acquisition has closed, become effective, or received all approvals.
Why it matters
For due-diligence readers, the useful signal is that Apollo-managed funds are publicly named in a large, source-party public-company transaction involving a UK-listed airline. The announcement also gives readers specific status language to monitor: board agreement on terms and conditions, scheme-of-arrangement implementation, cash-offer terms, alternative-offer mechanics, irrevocable undertakings, and regulatory and airline ownership-control conditions.
The signal is bounded. The RNS sources support the recommended cash acquisition framing, offer price, approximate transaction value, named Apollo/Bidco/easyJet parties, support undertakings, and scheme language. They do not establish that the transaction has closed, that shareholders or courts have approved it, that all regulatory or airline ownership-control conditions are satisfied, that any specific Apollo fund has a final exposure, or that the transaction merits any investment action.
Source notes
- London Stock Exchange RNS,
Offer for easyJet plc: https://www.londonstockexchange.com/news-article/market-news/offer-for-easyjet-plc/17726841 - London Stock Exchange RNS,
Statement re recommended acquisition - easyJet plc: https://www.londonstockexchange.com/news-article/market-news/statement-re-recommended-acquisition-easyjet-plc/17726853 - Public adviser identity reference for CRD 143161: https://adviserinfo.sec.gov/firm/summary/143161
- Source posture: official LSE RNS bodies are controlling support for the transaction status, named parties, cash-offer terms, approximate value, scheme language, support-undertaking context, and caveats. easyJet corporate pages were not used as controlling support in this workflow because they were blocked by Cloudflare/HTTP access checks.
- Verifier posture: the 2026-08-11 PM source reviewer cleared this as the sole PM drafting candidate with high identity confidence and no local same-event duplicate. Candidates 2-8 in the same PM batch remain source-watch, reject/no-news, or monitor-only and were not drafted.
9AT filing context
Public adviser/profile context reviewed by 9AT maps the broad Apollo lane to Apollo Capital Management, L.P., CRD 143161 / SEC file 801-67592, with about $751.8 billion of ADV-derived reported adviser AUM/profile scale. That context is useful only to identity-scope the Apollo adviser/platform lane named in the RNS.
No 13F or Form 5500 context is included. Public-equity holdings and employee-benefit-plan filings do not explain this offer’s price, financing, conditions, airline ownership-control analysis, shareholder support, Castlelake’s prior possible-offer posture, completion probability, or the economics of any Apollo-managed fund or vehicle.
What to watch
Watch for the scheme document, shareholder-meeting materials, court and regulatory updates, airline ownership-control disclosures, final election mechanics for the alternative offer, competing-offer developments, and any later source-party announcements from easyJet, Bidco, Apollo, easyGroup, or regulators.
Until those updates are public, coverage should preserve the RNS status language. Future posts should not convert the recommended acquisition into a completed acquisition or infer final Apollo fund exposure, transaction merits, valuation fairness, financing economics, approval outcomes, or investment advice.