Punching or cutting holes for a quarter turn latch

I need to change some latches on several 1/8 aluminum panels on a food truck.

How can I go from the old to new size?

Old latch

New Latch

Die grinder with a carbide burr. It’s aluminum. This assumes it’s still on the truck. Make a template. You could also use a standard router with a carbide bit but you will need to go slow

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thanks – I can do that