SAFRAN (EPA:SAF) - Envisaged merger by absorption of Zodiac Aerospace by Safran
Transparency directive : regulatory news
04/06/2018 08:51
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PRESS RELEASEEnvisaged merger by absorption of Zodiac Aerospace by Safran
Paris, June 1, 2018
Governing bodies of Safran and Zodiac Aerospace and the employee
representatives at the two companies were informed of an envisaged merger of
the entities via the absorption of Zodiac Aerospace by Safran.
The contemplated merger is consistent with the intentions laid out in the
information memorandum dated December 21, 2017 relating to the Tender Offer and
in which Safran reserved its right to consider the best way to integrate Zodiac
Aerospace.
The conditions of the contemplated merger would be subject to prior
authorizations as well as consultation of the employee representative bodies of
Safran and Zodiac. The contemplated merger is expected to be completed before
the end of 2018.
Safran is an international high-technology group, operating in the aircraft
propulsion and equipment, space and defense markets. Safran has a global
presence, with more than 58,000 employees and sales of 16.5 billion euros in
2017. Working alone or in partnership, Safran holds world or European
leadership positions in its core markets. Safran undertakes Research &
Development programs to meet fast-changing market requirements, with total R&D
expenditures of around 1.4 billion euros in 2017. Safran is listed on the
Euronext Paris stock exchange, and is part of the CAC 40 and Euro Stoxx 50
indices.
In February 2018, Safran took control of Zodiac Aerospace, significantly
expanding its aircraft equipment activities. Zodiac Aerospace has 32,500
employees and generated sales of 5.1 billion euros for its fiscal year ended
August 31, 2017
For more information : www.safran-group.com / Follow @Safran on Twitter
Press
Catherine MALEK : catherine.malek@safrangroup.com / T +33 (0)1 40 60 80 28
Investors Relations
Cécilia MATISSART : cecilia.matissart@safrangroup.com / T +33 (0) 1 40 60 82 46
Frédéric LUCAND : frederic.lucand@safrangroup.com / T +33 (0)1 40 60 82 19
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