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FEBRUARY 2017 ISSUE

Safran and Zodiac Aerospace Join Hands to Become New Global Leader in Aerospace
 
Safran and Aerospace Zodiac have entered into an exclusive negotiation for acquisition of Zodiac Aerospace by Safran through an agreed public offering.

The transaction intends to create a global leader in aircraft equipment, allying Safran’s capabilities with Zodiac Aerospace’s to position the group ideally for future developments towards the more electrical aircraft. This new entity plans to offer a comprehensive product range reinforcing Safran’s presence across all key aircraft programmes, fueling organic growth and limiting exposure to aircraft-OEM delivery cycles.

Ross McInnes, Chairman of Safran’s Board of Directors said, “Safran’s Board of Directors is very proud to contribute to a new chapter in Safran’s story. This planned acquisition is fully consistent with the strategy we clearly outlined almost a year ago at our Capital Markets Day, to bolster Safran’s core aerospace activities with quality businesses which share our DNA: technology, Tier-1 positions and recurring revenue streams. It will strengthen our position and create significant value through integration and synergies. The Board of Directors is unanimously supportive because it is favourable for Safran’s shareholders, employees and partners. I extend a warm welcome to Zodiac Aerospace’s teams with whom we are excited to embark on this journey.”

Didier Domange, Chairman of Zodiac Aerospace’s Supervisory Board, said, “The creation of this new global leader in the aerospace industry is led by a strong industrial rationale and a long-term vision. The new group will be ideally positioned to support its clients in their ambitious programs for the future. We are delighted to participate in the combination of two leaders of the industry with complementary positions and strong innovation abilities dedicated to their customers.”

Under the terms of the contemplated combination, Safran’s Board of Directors would comprise 20 members, including representatives of Zodiac Aerospace’s reference shareholders. Ross McInnes would be Chairman of the Board, Philippe Petitcolin would be CEO and Olivier Zarrouati, Chairman of Zodiac Aerospace’s Management Board, would become deputy CEO while Bernard Delpit would be CFO.

 
 


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