TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:
Latécoère (Paris:LAT), a tier 1 partner to major international aircraft manufacturers, announces that its Board of Directors appointed Finexsi Expert & Conseil Financier (“Finexsi”) as independent expert to deliver an opinion on the fairness of Searchlight Capital Partners (“Searchlight”) proposed acquisition terms, in accordance with Articles 261-1 et seq. of the general regulations of the French Financial Markets Authority (AMF).
An Ad Hoc Committee of Independent Directors has been appointed to supervise the independent expert’s mission. A process of information-consultation of the employees’ representative bodies has already started and will be conducted in parallel. Following the issuance by the Board of Directors of Latécoère of its reasoned opinion, it is the intention of Searchlight to launch a voluntary cash tender offer on the securities of the Company, as announced on June 28, 2019, at a price of €3.85 per share.
Searchlight’s intention is to file the tender offer in Q3 2019. The cash tender offer will remain subject to regulatory and administrative approvals, including the American "CFIUS" procedure and the authorization of the Ministry of Economy for foreign investments in France, as well as the required merger control authorizations, in particular in Germany.
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 €190,337,036 divided into 95,168,518 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