00:01The British budget airline EasyJet has confirmed a 6.6 billion euro takeover by U.S. private
00:08equity firm Apollo. The deal comes after rival U.S. investment group Castle Lake pulled out
00:14of the bidding and is expected to be complete by the end of next year's first quarter.
00:19EasyJet's headquarters will remain in the town of Luton, known for its airport close to London.
00:26As a foreign entity, Apollo is unable to take full ownership of the airline.
00:31UK and European rules require firms to be majority-owned and controlled by regional
00:36nationals. The U.S. firm said it would take necessary steps to find a European partner.
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