Castlelake explores MSC partnership for potential easyJet takeover bid
Castlelake is weighing a partnership with shipping and logistics group MSC as it studies a possible bid for easyJet, adding a new cross-sector angle to the contest for the UK budget airline. The potential tie-up could help any offer meet EU ownership rules and would link aviation with MSC's broader leisure transport and travel assets.
Highlights
- Castlelake is considering a formal offer for easyJet at over 403.23 pence per share and has until June 26 to make a firm bid.
- Castlelake is seeking MSC as a consortium partner to meet EU ownership requirements, with MSC already contacted about potential involvement.
- A potential tie-up with MSC would extend MSC's presence across the leisure travel supply chain, mirroring TUI's integrated model and leveraging easyJet's holiday package business.
Bid structure and deadline considerations
As first reported by Corriere della Sera, Castlelake is looking at MSC as a possible consortium partner if it decides to submit a formal offer for easyJet. The Italian newspaper says the U.S. investment firm wants the Swiss-based group involved so a bid can comply with EU ownership requirements.Castlelake said last week it is in the early stages of considering a possible offer for easyJet at more than 403.23 pence per share, but no approach has been made to the airline's board. Under UK takeover rules, the firm has until June 26 to make a firm bid or walk away.
Corriere della Sera, citing sources familiar with the discussions, says MSC has already been contacted. The report adds that other sources also see the group's involvement as a possible outcome, although MSC declines to comment and easyJet and Castlelake are not immediately available for comment.
Travel sector implications of an MSC tie-up
MSC, controlled by Italian billionaire Gianluigi Aponte, is best known as the world's largest shipping group, but its business also spans logistics, terminals, inland transport and passenger cruises. The company also owns a 49% stake in Italian high-speed rail operator Italo.A combination with easyJet would extend MSC's reach across a broader leisure travel chain, from flights to cruises, in a structure the report compares with German travel group TUI's model. EasyJet also owns a holiday package business that launched in 2019, giving any buyer access not only to airline operations but also to packaged travel revenues.
Our earlier article on the EU’s renewed push for a capital markets union examined Brussels’ efforts to reduce fragmentation in European funding markets and keep more investment activity inside the bloc. We noted that deeper integration could shift financial influence away from London and make EU rules and structures more decisive for cross-border capital flows and corporate strategy.
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