Searchlight Capital to buy 26 pct stake in France's Latecoere

Latecoere SA

02/04/2019 06:22

PARIS, April 2 (Reuters) - Investment company Searchlight
Capital Partners has agreed to buy a 26 percent stake in French
aeronautics company Latecoere  LAEP.PA  for around $106.8
million, in the latest example of activist funds targeting
French companies.
    Searchlight Capital said in statement on Tuesday that it
would buy the stakes in Latecoere held by Apollo Capital
Management  APO.N , Monarch Alternative Capital and CVI
Partners, at a price of 3.85 euros per share.
    Latecoere shares closed at 3.13 euros on April 1, giving the
company a market capitalisation of around 300 million euros 
($336 million).
    ($1 = 0.8926 euros)

 (Reporting by Sudip Kar-Gupta)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))