The battle for EasyJet has intensified after U.S. private equity firm Apollo Global Management eclipsed rival bidder Castlelake with a $7.6 billion proposal.
EasyJet has rejected a third bid by Castlelake to acquire its share capital at £6.25, an offer the UK-based LCC said was an attempt to acquire it “on the cheap”.
Avolon will buy the aircraft leasing unit of alternative investment manager Castlelake for an undisclosed sum in a deal that will add 118 jets to its fleet.