PARIS (Reuters) – Safran is reportedly close to reaching an agreement to acquire a unit of Raytheon Technologies specializing in flight controls for airplanes, helicopters and missiles for $1.8 billion ( 1.66 billion euros), according to a source familiar with the matter.
With this activity, inherited by Raytheon from the merger three years ago with United Technologies, Safran would strengthen its position in the flight control segment, against rivals such as Moog, Eaton, Woodward and Parker-Hannifin.
The French aero-engine maker could reach an agreement with Raytheon as early as this week, according to the source, who requested anonymity.
Spokespersons for Safran and Raytheon did not immediately respond to requests for comment.
Safran said on June 5, in response to reports from Bloomberg News on the subject, that it was participating in a “competitive process” to acquire Raytheon’s flight control business, without commenting on the chances of a deal or the terms of a transaction.
A deal with Raytheon would be Safran’s largest acquisition since buying aircraft seat maker Zodiac Aerospace in 2018, and the largest acquisition made under Olivier Andriès, who took over as the group’s helm in 2021. .
The acquisition of the Raytheon division will also strengthen Safran’s ties with Airbus and the American army, which Safran supplies with spare parts.
Raytheon’s division was previously owned by Rockwell Collins, a company sold to United Technologies in 2018. Greg Hayes, CEO of Raytheon, has sought to streamline some of Rockwell Collins’ businesses by positioning them to benefit from increased aircraft orders .
(Report David Carnevali, French version Corentin Chapron, edited by Kate Entringer)
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