(IN BRIEF) Safran’s planned acquisition of Collins Aerospace’s actuation and flight control business faces a regulatory challenge as the Italian government exercises its Golden Power to oppose the sale of Microtecnica S.r.l, the company holding the relevant assets in Italy, to Safran. Despite this hurdle, Safran remains committed to the acquisition and is working with stakeholders to determine the next steps. The completion of the acquisition is also subject to other customary regulatory approvals and closing conditions.
(PRESS RELEASE) PARIS, 20-Nov-2023 — /EuropaWire/ — Safran (EPA: SAF), a French multinational aircraft engine, rocket engine, aerospace-component and defense company, in its pursuit of acquiring Collins Aerospace’s actuation and flight control business, has encountered a regulatory challenge from the Italian government. Italy has exercised its Golden Power, opposing the sale of Microtecnica S.r.l, the entity that controls the relevant assets in Italy, to Safran.
Despite this development, Safran affirms its commitment to the transaction and is actively collaborating with all stakeholders to determine the best course of action. Additional updates will be shared as they become available.
It’s important to note that the completion of this acquisition is contingent on securing various customary regulatory approvals and fulfilling closing conditions.
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