Shareholders back easyJet's £5.7 billion sale

Shareholders of British airline easyJet have backed the £5.7 billion sale of the business to investment firm Apollo. The decision brings one of the largest private equity deals in Europe's aviation sector closer to completion.

At a special shareholder meeting, 97.07% voted in favor of the deal. The agreement with Apollo was reached back in August, but its execution required shareholder approval.

Court and regulatory approvals are also still needed. The companies expect the process to be completed in the first quarter of 2027. After that, trading in easyJet shares on the London Stock Exchange will cease.

The sale of the company marks a significant shift in Europe's aviation sector, as one of the best-known low-cost airlines will come under the control of a private equity group.

Source: Yahoo Finance