Funds managed by Searchlight Capital Partners (Searchlight) are to acquire a 26 per cent stake in Latécoère from funds managed by affiliates of Apollo Global Management, an affiliate of investment funds managed by Monarch Alternative Capital (Monarch), and CVi Partners.
Searchlight is paying a total of USD106.8 million, equivalent to EUR 3.85 per share.
The Agreement provides for a top-up provision in the event Searchlight files a tender offer on Latécoère at a higher price within 12 months following closing and such tender offer is consummated.
This transaction is still subject to usual regulatory clearances, including CFIUS and certain antitrust approvals.
Searchlight expresses its full support in the management team and in the Company’s strategy.
Subject to this transaction, Searchlight will be represented by three directors on the Board of directors of Latécoère. The application of such directors will be submitted for approval to the Board of directors.