Latécoère Group
About
Latécoère Group is an aviation services provider that specialises in aerostructures and interconnection systems. Established in 1917, the group was an aircraft manufacturer and developed its complementary operations, especially in mechanical and electrical fields. Latécoère abandoned its aircraft manufacturing business, and focused on designing and producing interconnection systems, fuselage and door elements, as well as product support activities.
In May-2022, Avcorp Industries entered a definitive arrangement agreement with Latécoère. The total transaction value is approximately CAD139 million (USD108.3 million), including the repayment or assumption of Avcorp's net debt and other lease liabilities.
In Nov-2022, Avcorp Industries completed a plan of arrangement with Latécoère's wholly owned subsidiary Albatross Bidco, under which Albatross Bidco acquired all the issued and outstanding common shares of Avcorp. As a result of the arrangement, Avcorp shares were delisted from the Toronto Stock Exchange and Avcorp submitted an application ceasing to be a reporting issuer.
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