Safran to Buy Collins Aerospace's Flight-Control Business in $1.8 Billion Deal
21 Julho 2023 - 4:07AM
Dow Jones News
By Adria Calatayud
Safran said Friday that it plans to acquire the actuation and
flight-control business from Raytheon Technologies' Collins
Aerospace unit in a cash offer that values the target at $1.8
billion including debt.
The French aerospace-industry supplier said the acquisition
would strengthen its position in critical flight control and
actuation functions, given that the businesses have complementary
product offerings, customer exposures and capabilities.
"The transaction would enable us to deliver a comprehensive
offering to our clients and position us extremely well for
next-generation platforms as the segments move toward increased
electrification," Safran Chief Executive Olivier Andries said.
Collins Aerospace's actuation and flight control is expected to
generate sales of around $1.5 billion and earnings before interest,
taxes, depreciation and amortization of $130 million in 2024,
Safran estimates.
Closing of the deal is expected in the second half of 2024,
subject to consultation with employee-representative bodies of both
companies as well as regulatory approvals, Safran said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 21, 2023 02:52 ET (06:52 GMT)
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