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Latécoère: Successful Takeover Bid by Searchlight Capital Partners

Regulatory News:

Latécoère (Paris:LAT), a leading partner of major international aircraft manufacturers, acknowledged the success of the takeover bid filed on September 16th, 2019 by Searchlight Capital Partners which was mentioned today in a publication by the Autorité des marchés financiers (the "AMF"). Between December 9 and 20th, 2019, a total of 1,793,364 Latécoère shares was tendered to the offer. In addition, Searchlight Capital Partners acquired 851,123 shares on the stock market, enabling it to hold 62,152,806 shares in total, representing 65.55% of the share capital and 64.75% of the voting rights, at the transaction close on December 20th, 2019.

Yannick Assouad, CEO of Latécoère, stated: "This transaction is a new milestone for the Latécoère Group, which will enable us to look towards the future with confidence, whilst maintaining our roots in the Occitanie region. With Searchlight, we are well equipped to deploy our strategy for growth, particularly in the aerostructures market where reaching critical size is necessary in order to build profitable and long-lasting partnerships with our customers."

Ralf Ackermann, Searchlight's representative on Latécoère's Board of Directors, added: "Searchlight Capital Partners is excited to support Latécoère in the next stage of its development by increasing performance across both divisions and becoming an active participant in industry consolidation, in particular in aerostructures. This will allow Latécoère to continue to improve its customer focus, strengthen its research and technology investment efforts and enable the Group to be well positioned for future commercial platforms that are set to emerge in the next decade."

About Latécoère

Latécoère is a tier 1 partner to major international aircraft manufacturers (Airbus, Embraer, Dassault, Boeing and Bombardier), in all segments of the aeronautical market (commercial, regional, corporate and military aircraft), specializing in two fields:

  • Aerostructures (58% of total revenue): fuselage sections and doors.
  • Interconnexion systems (42% of total revenue): onboard wiring, electrical harnesses and avionics bays.

At 31 December 2018, Latécoère employed 4,958 people in 13 different countries. Latécoère, a French corporation (société anonyme) with capital of €189,637,036 divided into 94,818,518 shares with a par value of €2 per share, is listed on Euronext Paris - Compartment B. ISIN codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP

View source version on businesswire.com: https://www.businesswire.com/news/home/20191223005523/en/

Contacts

Latécoère
Michel Abaza / Chief Financial Officer
+33 (0)5 61 58 77 00
michel.abaza@latecoere.aero

FTI Consulting
Arnaud de Cheffontaines / Investor Relations
+33 (0)1 47 03 69 48
Mathilde Jean / Relations Media
+33 (0)1 47 03 6954
latecoere@fticonsulting.com