NEUILLY-SUR-SEINE (dpa-AFX) - French Aerospace company Safran (SAF.PA, 0IU8.L, SAFRF.PK) said Monday that it has entered into negotiations with Thales to acquire its aeronautical electrical systems business.
The proposed acquisition includes Thales Avionics Electrical Systems and Thales Avionics Electrical Motors companies in France, with sites in the Paris region in Chatou, Meru, and Conflans-Sainte-Honorine, as well as the support, maintenance and production activities for aeronautical electrical equipment in Orlando (USA) and Singapore.
Thales's aeronautical electrical systems business employs about 600 people and generated revenues of 124 million euros in 2021.
The transaction is expected to take place in 2023.
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