Italian Government Exercises Golden Power, Hinders Safran’s Proposed Acquisition

Paris, November 20, 2023 — Safran, in pursuit of acquiring Collins Aerospace’s actuation and flight control business, received news of the Italian government’s activation of its Golden Power prerogative. This action directly opposes Safran’s intended acquisition of Microtecnica S.r.l, the entity holding the pertinent assets in Italy.

Despite this unforeseen development, Safran reaffirms its steadfast commitment to the acquisition. The company is actively engaged with all stakeholders involved, collaborating to discern the most appropriate steps forward amidst this recent challenge.

“We remain dedicated to this transaction and are diligently working alongside all relevant parties to navigate this development,” stated [spokesperson’s name/title], [position at Safran]. “As we assess the situation, further updates will be communicated promptly.”

It is crucial to note that the completion of this acquisition remains contingent on securing various customary regulatory approvals and fulfilling closing conditions, in addition to addressing the Italian government’s recent opposition.

Safran assures stakeholders that they will continue to provide pertinent information as the situation progresses.