Neuilly-sur-Seine, 7th December 2017
FFP intends to tender its Zodiac Aerospace shares to Safran's exchange offer
As a shareholder in Zodiac Aerospace since 2006, FFP has been a supporter of the group through the various stages of its development. Sales have more than doubled over the past 10 years. Since the initial investment, value creation for FFP amounts to €270 million.
During the past months, as a member of Zodiac Aerospace's Supervisory Board, FFP has strongly participated in the discussions around the combination with Safran. This ambitious industrial project will enable the creation of a French global leader in aerospace, which will benefit to shareholders, employees and customers of both groups.
Based on the quality of Safran's business model, the recovery currently under way at Zodiac Aerospace and the strength of the aerospace cycle, FFP is eager to become shareholder of the new entity.
Consequently, as part of the friendly takeover bid of Zodiac Aerospace initiated by Safran, FFP intends to tender all its Zodiac Aerospace shares to the subsidiary exchange offer filed with the AMF today.
A member of Zodiac Aerospace's Supervisory Board for 11 years, and in accordance with the agreements signed on 24 May 2017 with Safran, FFP will participatein the governance of Safran's Board of Directors by its next Annual General Meeting at the latest.
"Following 11 years as an active shareholder of Zodiac Aerospace and member of its Supervisory Board, we are proud to contribute actively to the creation of one of the main players in the aerospace industry, based in France. We will be happy to support its development in the years to come," said Robert Peugeot.
FFP is an investment company listed on Euronext, majority-owned by Etablissements Peugeot Frères and managed by Robert Peugeot. FFP is one of the leading shareholders of Peugeot SA and pursues a minority shareholdings and long-term investment policy. FFP holds participations in listed companies (LISI, Zodiac Aerospace, DKSH, SEB or ORPEA), non-listed companies (IHS or Eren Renewable Energy), and private equity funds.