PARIS (Agefi-Dow Jones)–Safran has entered into negotiations with Thales to acquire its aeronautical electrical systems business, the two groups announced in a joint press release on Monday. The amount of the transaction was not disclosed. Thales’s aeronautical electrical systems business employs nearly 600 people and generated revenue of 124 million euros in 2021.
“This acquisition project includes, in France, the companies Thales Avionics Electrical Systems and Thales Avionics Electrical Motors, located on the sites of Chatou (78), Meru (60), and Conflans-Ste Honorine (78), as well as the support, maintenance and production activities for aeronautical electrical equipment located in Orlando (United States) and Singapore”, detailed Safran and Thales.
Subject to the usual regulatory approvals, the two groups have indicated that the transaction will be completed in the course of 2023.
-Vincent Alsuar, Agefi-Dow Jones; +33 (0)1 41 27 47 39; [email protected] ed: ECH
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
September 05, 2022 13:05 ET (17:05 GMT)