Latécoère, a "Tier 1" international partner of the world's major aircraft manufacturers, today announces the closing of the acquisition of Malaga Aerospace, Defense & Electronics Systems (MADES).

Further to the news release dated December 13, 2021, that announced the signing of the acquisition of Malaga Aerospace, Defense & Electronics Systems from American Industrial Acquisition Corporation (AIAC) via its affiliate Malaga Electronic Systems Holding Company (MESH), Latécoère is pleased to announce the closing of the transaction. The acquisition of MADES was subject to the approval by the Spanish Council of Ministers pursuant to defence foreign direct investment regulations, which has now been secured.

MADES is developing Latécoère's position in the US Defense market segment and will create significant synergies within Group's Interconnection Systems division as well as reinforcing the Company's #1 position for avionic racks.