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Castlelake

All articles tagged with #castlelake

business1 day ago•3 min saved

Apollo bids higher to take EasyJet at £7.15 a share, eclipsing Castlelake

EasyJet said it has agreed in principle to Apollo Global Management's takeover offer, valued at about £5.7bn (roughly £7.15 per share), topping Castlelake's £5.2bn/£6.90-per-share bid and leaving Castlelake on the back foot. Apollo has until 17:00 on 7 August to firm up a bid, while Castlelake's deadline is 3 August. Any deal must satisfy EU ownership rules, with Apollo saying it will meet those conditions. For now, flights and bookings continue as normal, and shares rose on the news as analysts note EasyJet's profitable network and holidays business make it an attractive target.

via BBC|

#apollo-global-management #business #castlelake

business5 days ago•1 min saved

EasyJet stock soars on Castlelake’s renewed $7.3B privatization bid

EasyJet shares jumped to a 52-week high after Castlelake raised its bid to £5.5 billion ($7.3 billion) to take the airline private, offering $6.90 per share with an Aug. 3 deadline to firm up the offer. The deal comes as airlines face jet-fuel costs and EasyJet reports a £552 million pre-tax loss for the six months to March 31 despite revenue rising to £4 billion, with Castlelake saying it would support growth and fleet modernization if the deal goes through.

via CNBC|

#airlines #business #castlelake

business5 days ago•3 min saved

Castlelake advances £5.5bn cash bid to take EasyJet private

US private credit group Castlelake and EasyJet have agreed in principle to a £6.90-a-share cash offer, valuing the airline at about £5.5bn on a fully diluted basis and extending the bid deadline to August 3; the deal would take EasyJet private if a firm offer emerges, following several prior approaches that EasyJet deemed undervaluing the company. The board said it would be minded to recommend the proposal, and the shares rose after the announcement as discussions around due diligence and ownership structure continued ahead of any possible higher bid based on additional information.

via Financial Times|

#airlines #business #castlelake

business5 months ago•2 min saved

Spirit in Talks with Castlelake for a Takeover as it Seeks Bankruptcy Exit

Spirit Airlines is negotiating with investment firm Castlelake for a potential takeover as it seeks to exit Chapter 11 bankruptcy, following earlier talks with Frontier over a merger and a prior JetBlue bid; Castlelake has aviation financing experience and Spirit has recently secured additional funding while weighing a standalone reorganization or strategic transaction, all while cutting flights and obtaining wage concessions from unions amid industry pressures.

via CNBC|

#aviation-finance #bankruptcy #business