Apollo, Monarch and CVi Partners agreed to sell their entire 26% aggregate shareholdings in Latécoère to funds managed by Searchlight Capital Partners.
Willkie represented Monarch Master Funding 2 (Luxembourg) Sarl (Monarch) and affiliates of certain investment funds managed by affiliates of Apollo Global Management, LLC (Apollo) on the signature of a share purchase agreement under which Apollo, Monarch and CVi Partners (CVi) agreed to sell their entire 26% aggregate shareholdings in French-listed Latécoère to funds managed by Searchlight Capital Partners. The total consideration payable upon completion is approximately $107 million, and the completion of the share sale transaction is subject to customary regulatory clearances. The deal signed on April 1, 2019. Click here for the April 2, 2019 press release.
Headquartered in Toulouse, France, with global operations, Latécoère has a rich history of experience in the aeronautics industry, and is notably the world’s leading independent manufacturer of aircraft doors.
Willkie’s involvement in this transaction follows the firm’s successful representation of Apollo and Monarch on the debt-for-equity restructuring of Latécoère, which completed in September 2015.
The multidisciplinary, cross-border Willkie team on the current matter was led by corporate partner Gabriel Flandin (Paris) and restructuring partner Graham Lane (London), with assistance from corporate partners Mark Cognetti and Howard Block (New York), antitrust & competition partner Faustine Viala (Paris) and global trade & investment partner David Mortlock (Washington).