2023-06-18 09:35:15
The Toulouse commercial court has approved the recapitalization of 283 million euros of the Latécoère group, with in particular the cancellation of 183 million euros of loans guaranteed by the State. A breath of fresh air for the aeronautical equipment manufacturer.
Good news for Latécoère, which supplies aerostructures (doors and fuselage parts) and electrical wiring to customers such as Airbus and Boeing. The group has obtained the cancellation of 183 million euros in state-guaranteed loans. The 283 million euro recapitalization agreement of the aeronautical subcontractor has been approved by the Toulouse commercial court.
This debt reduction”will take place at the closing of the capital increase“, specifies the group in a press release, which has already been restructured four times in recent years. euros in 2022.
In addition to the debt reduction, the subcontractor also obtained a rescheduling of the repayment of 85 million euros of PGE “without interim amortization until maturity on December 31, 2027“.
Its main shareholder, the American fund Searchlight Capital Partners, has also undertaken to carry out a capital increase of “at least 100 million euros“. This one needs to be started.”in the fourth quarter“, says Latécoère in a press release.
This news is likely to relieve employees, who were very worried regarding the potential relocation of the Montredon site (Haute-Garonne) to the Czech Republic and Mexico. “With the signing of this conciliation protocol, I also wish to reiterate the principles of our industrial vision: maintain our decision-making center in Toulouse, consolidate our value-added activities in the Toulouse region, and continue to invest in our global operational presence.“, declared Thierry Mootz, director general of the group.
In parallel with the approval of the recapitalization agreement, the Commercial Court of Toulouse also approved the sale to Bombardier of Latécoère’s EWIS activity in Mexico. The next annual general meeting is postponed to the end of July 2023.
Despite its difficulties, the group, which employed nearly 6,000 people worldwide at the end of 2022, plans to recruit around a hundred people in France, according to management.
(With AFP)
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