Ace Capital Partners signed a binding agreement to acquire a stake in Figeac Aero Société Anonyme (ENXTPA:FGA) from Jean-Claude Maillard, Chairman-Chief Executive Officer of Figeac Aero on September 9, 2021. The transaction is subject to certain conditions precedent, namely FIGEAC AÉRO reaches an agreement with its creditors to reschedule its main bank loans and adjust its convertible bond (ORNANE) redemption profile, and the Autorité des marchés financiers grants an exemption from the obligation to make a mandatory buyout offer during the course of the transactions agreed with Ace in FIGEAC AÉRO’s share capital. The transaction is expected to close in the fourth quarter of 2021. Figeac Aero intends to use the net proceeds from the planned transactions to finance its transformation plan “Route 25”, its working capital requirements and its general financing needs. Guillaume Kellner, Nicolas Lafont and Sacha Frantz of McDermott Will & Emery acted as legal advisors to Figeac Aero. Patrick Ledoux of Gibson, Dunn & Crutcher LLP acted as legal advisor to Ace.