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Safran SA (SAFRF)
- Reuters
Italy blocked Safran-Collins deal due to national defence issues -Meloni
Italy blocked French group Safran's planned $1.8 billion purchase of the flight control systems arm of Collins Aerospace because it could have threatened supplies to national armed forces, Prime Minister Giorgia Meloni said on Wednesday. Safran said on Monday that Rome had vetoed its acquisition of Microtecnica, Collins Aerospace's Italian subsidiary, using its "golden power" to halt the takeover of what it deems a strategic asset. The decision was taken to avoid "potential" risks "for the readiness of our armed forces" and "potential interruptions of our logistics chain", Meloni said in Berlin after a meeting with German Chancellor Olaf Scholz.
- Reuters
Italy blocked Safran deal due to risk of disruption for its armed forces -govt officials
Italy decided to block the takeover by French group Safran of Microtecnica, Collins Aerospace's Italian subsidiary, due to the risk of disruption in supplies to the Italian armed forces, government officials said. The potential disruption stemming from the transaction did not appear to be compatible with the operational needs of the Italian armed forces, the officials from Prime Minister Giorgia Meloni's office told Reuters.
- Reuters
Italy knocks back Safran's $1.8 billion Collins Aerospace deal
PARIS/ROME (Reuters) -Italy has knocked back French group Safran's planned $1.8 billion purchase of the flight control systems arm of Collins Aerospace, with Italian government sources citing concerns over supplies to armed forces and contracts for the Eurofighter programme. Safran said on Monday that Rome had vetoed its acquisition of Microtecnica, Collins Aerospace's Italian subsidiary, using its "golden power" to halt the takeover of what it deems a strategic asset. The move by Giorgia Meloni's government is a rare one against a European Union company.
