TAT Group has entered into exclusive negotiations with the investment companies Sagard, Bpifrance and TowerBrook in order to sell them its majority interest in its subsidiary Sabena technics, one of the European leaders in the field of aircraft maintenance and modification.
This project was presented on December 17, 2018 to all Sabena technics Group' s works councils. The sale should be finalized during the second quarter of 2019, subject to the completion of this procedure and the approval of the supervisory authorities.
This shareholder evolution will be an important step for Sabena technics' development by reinforcing its growth opportunities while accompanying it in the successful implementation of its strategic plan which aims at a turnover of €600 million in 2021. This development will also give the Group significant resources to expand its offer through external growth, with the constant goal of better serving its customers using skills or locations that complement its own.
TAT Group will remain a minority shareholder and its current chairman, Rodolphe Marchais, will take over the presidency of Sabena technics' supervisory board. Philippe Rochet will become the executive CEO and shareholder of the Group alongside the group's senior executives, Jean Marc Schaefer, Gilles Foultier, Philippe Delisle and Fabrice Dumas, who are all continuing in their positions.
