Latest News | Wipro Infra Engineering to Acquire Majority Stake in French Aerospace Major Lauak Group

New Delhi, Jun 18 (PTI) Engineering and manufacturing solutions provider Wipro Infrastructure Engineering (WIN) on Wednesday said it will acquire a majority stake in French aircraft parts manufacturer Lauak Group.

Lauak Group is a 50-year-old family-owned company supplying aircraft parts to major global aerospace companies.

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The company, however, did not divulge the quantum of stake and size of the deal.

"Wipro Infrastructure Engineering (WIN), a leading global engineering and manufacturing solutions provider and the Charritton Family, founders and current shareholders of Lauak Group, announced today at the Paris Air Show that they have entered into exclusive negotiations for a majority stake acquisition in the company.

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"The proposed transaction was submitted to the relevant employee representative bodies for consultation, and all necessary approvals have now been received," a company statement said.

The transaction is expected to close in the coming months, it said.

Lauak Group and Wipro names would be combined to form Wipro Lauak.

The deal will establish a joint Board of Directors with representatives from both Wipro and Lauak to oversee the company's future operations and growth. Lauak Group CEO Mikel Charritton will remain in his role.

"This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak's rich legacy in Aerospace and specialised expertise aligns with our long-term vision of building a fully integrated, global aerospace solutions platform. Together, we would be positioned to deliver greater value, agility, and innovation to our customers worldwide," Pratik Kumar, CEO, Wipro Infrastructure Engineering, said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)