Safran: Update on proposed acquisition of Collins Aerospace’s actuation and flight control business

PRESS RELEASE

Update on proposed acquisition of Collins Aerospace’s actuation and flight control business 

Paris, June 6, 2024

In connection with the proposed acquisition of Collins Aerospace’s actuation and flight control business, Safran has been informed by the Italian government of its decision ultimately to approve the sale to Safran of Microtecnica S.r.l, the company holding the concerned assets in Italy. Safran welcomes this decision. Safran made a number of commitments, which are compatible with the targeted objectives of this acquisition, and which address the concerns expressed in the initial Italian decree of November 16, 2023 and provide adequate safeguards of the Italian national interests.

Furthermore, in the United Kingdom, the Secretary of State has reviewed the notification made under the National Security and Investment Act and has informed Safran that he will take no further action in relation to the proposed acquisition. This constitutes an unconditional clearance.

The completion of this proposed acquisition still remains subject to obtaining other regulatory approvals, particularly with regard to merger control, and customary closing conditions.

Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 92 000 employees and sales of 23.2 billion euros in 2023, and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and Innovation roadmap.

Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.

For more information: www.safran-group.com  

Press Contact

Catherine Malek: catherine.malek@safrangroup.com / +33 1 40 60 80 28

Analysts et Investors Contact 

Armelle Gary: armelle.gary@safrangroup.com / + 33 1 40 60 82 46

Florent Defretin: florent.defretin@safrangroup.com / + 33 1 40 60 27 30 Aurélie Lefebvre: aurelie.lefebvre@safrangroup.com / +33 1 40 60 82 19