Nov 11 (Reuters) – EasyJet’s shareholders on Wednesday approved the budget airline’s £5.7 billion takeover by Apollo, clearing a key hurdle for one of the biggest private-equity buyouts of a European carrier.
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.
(Reporting by Yamini Kalia and Raechel Thankam Job in Bengaluru; Editing by Jonathan Ananda and Mrigank Dhaniwala)
