PEUGEOT INVEST (EPA:PEUG) - FFP sells one third of its stake in Safran for €132 million
Transparency directive : regulatory news
23/11/2020 08:00
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PRESS RELEASENeuilly-sur-Seine, 23 November 2020
FFP sells one third of its stake in Safran for EUR132 million
FFP sold one third of its stake in Safran, i.e. 1,100,000 shares, for a total
amount of EUR132 million, under a forward sale contract maturing in March
2021.
FFP had been one of the main shareholders of the Zodiac group since 2006 and,
by contributing to its merger with Safran, supported the creation of a world
leader in the aerospace industry in 2018. Since the merger, FFP achieved an IRR
of 14.4% on its investment in Safran.
Commenting on this transaction, Robert Peugeot, member of the Board of Safran
and Chairman of the Board of FFP, said: "Although the aerospace industry has
been heavily affected by the consequences of the pandemic, it retains its
long-term growth characteristics. Safran has grown strongly since we became a
shareholder, and I would like to emphasize the remarkable work done by the
management to adapt and protect the company during this crisis."
Bertrand Finet, CEO of FFP, added : "Despite a year affected by the health
crisis and its economic consequences, FFP managed to seize new investment
opportunities while demonstrating its agility by taking advantage of the market
volatility to secure some significant capital gains."
About FFP:
FFP is an investment company listed on Euronext, majority-owned by
Etablissements Peugeot Frères. FFP is one of the leading shareholders of
Peugeot SA and pursues a minority shareholdings and long- term investment
policy. FFP holds participations in listed companies (SEB, Safran, ORPEA, LISI
or SPIE), non-listed companies (Tikehau Capital Advisors, Acteon or
Total-Eren), co-investments (IHS or JAB Holding), private equity funds and real
estate (SIGNA Prime Selection or Immobilière Dassault).
www.groupe-FFP.fr
Investor relations
Sébastien Coquard +33 1 84 13 87 20
sebastien.coquard@groupe-FFP.fr
Press contact
Vincent Deshayes +33 7 85 94 61 49
Vincent.deshayes@havas.com
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