(Reuters) – Aeronautical equipment manufacturer Safran announced on Thursday that it had received approval from the Italian government for the acquisition of Microtecnica, the company bringing together the assets of Collins Aerospace located in Italy.
The operation, which was initially blocked at the end of 2023 by Rome, was finally approved, the French group having made the necessary commitments to guarantee Italian national interests, the company announced in a press release.
The group also says it has obtained “unconditional authorization” from the United Kingdom for the takeover.
Other regulatory authorizations, particularly in terms of merger control, are still necessary to complete the operation, added Safran.
“We view these hurdles as likely limited given that Safran is not currently a significant player in the flight controls and actuators space,” Jefferies analysts said in a note.
The stock gained 0.38% at 08:06 GMT, after posting an increase of 1.2% at the opening of the Paris Stock Exchange.
(Written by Alban Kacher, edited by Blandine Hénault and Kate Entringer)
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