Apollo Global APO.N has agreed to buy easyJet EZJ.L in a deal that values the European budget airline at about £5.70 billion ($7.7 billion), the companies said on Thursday, as rival suitor Castlelake abandoned its pursuit.
The deal ends months of uncertainty surrounding one of Europe’s biggest low-cost airlines as the industry grapples with rising costs from the Iran war.
EasyJet’s board, advised by Evercore, unanimously recommended the cash offer,
