Apollo’s £5.7bn easyJet buyout to generate £334m in advisory fees

Bankers and advisers on Apollo Global Management's £5.7bn takeover of easyJet are set to earn about £334m in fees, according to the Financial Times as relayed by Private Equity Wire. Apollo is due to pay roughly £280m, of which £190m relates to arranging acquisition financing, and easyJet a further £54m. Barclays, PJT Partners, Citigroup and Paul Weiss act for Apollo; Evercore, BNP Paribas, Panmure Liberum and Clifford Chance act for easyJet.

Apollo won the deal after outbidding Castlelake. The revised structure is meant to meet EU majority European ownership rules, and Sir Stelios Haji-Ioannou's family would hold between 45.1% and 49.9%.