Fastjet confirms Stelios' EasyGroup among investor talks

Source:
This story is sourced from Pro
See more Pro news »

Pan-African low-cost operator Fastjet has confirmed Stelios Haji-Ioannou's investment vehicle EasyGroup Holdings is one of parties it is investment talks with.

Fastjet last month, in disclosing it had extended it existing equity finance facility with Darwin Strategy, said it was in talks with a "number of potential long-term investors".

Now in a brief stock market statement responding to recent press reports, the company says EasyGroup is one of these potential investors. "The company confirms that EasyGroup Holdings is, amongst others, a party to these discussions," it says. "A further announcement regarding the outcome of this process will be made in due course."

Haji-Ioannou helped start up Fastjet in 2011 and EasyGroup last summer increased its holding in the airline from 3% to 5.8% in lieu of all royalty and consultancy payments that were due to EasyGroup up to December 2013".

In November one of Fastjet's major investors, Lonrho, sold its entire 11% shareholding in the airline.