EasyJet Agrees To Be Taken Private By Castlelake

EasyJet and US private equity shop Castlelake reached an agreement on Sunday to take the UK low-cost carrier private. The offer values EasyJet equity at £5.5 billion (text says £5.5, likely billion given context). The airline’s board has suggested that shareholders accept it. The deal requires a minimum of 51% of the airline’s equity and control to be held by EU nationals. Castlelake previously held an ownership stake in SAS, which it sold to Air France-KLM Group. The article notes EasyJet's route network and service level relative to other LCCs like Ryanair and Wizz Air