Question 3945 — industry

Summary

Mr. Frank Giletti questions the Minister of the Economy, Finance and Industrial and Digital Sovereignty on the cancellation of 183 million euros in debt granted to Searchlight. Since 2019, the French aeronautical company Latécoère, supplier of boarding doors, fuselage sections and electrical wiring for Airbus, Boeing and Dassault, has been owned by an American fund, Searchlight Capital, whose headquarters are based in Cayman Islands. However, between 2020 and 2021, this American fund was granted three loans guaranteed by the State for an amount of 218 million euros, a loan from the European Investment Bank for an amount of 55 million euros, aid from the Occitanie regional council for an amount of 1.7 million euros and a state subsidy for an amount of 5.4 million euros in order to build a factory ultra-modern in the Montredon district in Toulouse. On May 8, 2023, under the aegis of the Interministerial Committee for Industrial Restructuring (CIRI), Searchlight Capital obtained the cancellation of its debt to the tune of several hundred million euros, more than half of which were loans guaranteed by the State. In addition, the fund obtained a rescheduling of 85 million euros of state-guaranteed loans. Today, to thank the State for its gesture, Searchlight Capital has announced that it will relocate industrial activities from Toulouse-Montredon to the Czech Republic and Mexico, thereby threatening more than 150 French jobs. However, despite this announcement, Latécoère promised to strengthen its presence in Toulouse by focusing on activities with high added value. Consequently, how does the minister explain the cancellation of 183 million euros of debt granted to Searchlight, based in the Cayman Islands and owner of the Toulouse aeronautical group Latécoère, 60% of which were loans guaranteed by the State? What steps will it take to ensure transparency and accountability for such financial decisions? He asks him how he plans to monitor and evaluate the commitments made by Searchlight and Latécoère concerning the maintenance of employment and industrial sites in France.

Machine translation from French. The official text remains authoritative.

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