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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Safran    SAF   FR0000073272

SAFRAN (SAF)
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EU clears merger of French aerospace suppliers Safran and Zodiac

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12/21/2017 | 12:06pm CEST
The logo of French aircraft seats and equipment manufacturer Zodiac Aerospace is seen during the company's first half of the 2015/2016 fiscal year presentation in Paris

BRUSSELS (Reuters) - The European Commission cleared the merger of French aerospace suppliers Safran (>> Safran) and Zodiac (>> Zodiac Aerospace) without imposing conditions, the EU executive said on Thursday.

BRUSSELS (Reuters) - The European Commission cleared the merger of French aerospace suppliers Safran (>> Safran) and Zodiac (>> Zodiac Aerospace) without imposing conditions, the EU executive said on Thursday.

Reuters had reported exclusively last Friday that the Commission, which acts as the competition watchdog in the European Union, would let the deal go ahead.

While both companies supply aircraft electrical systems, the Commission said the increase in market share the merger caused was very limited and the newly formed group would not gain power over suppliers and customers.

"Both Safran and Zodiac are significant French actors in the aeronautics markets but competition in these markets in Europe will remain strong," Competition Commissioner Margrethe Vestager said in a statement.

Safran made a $7.7 billion (£5.75 billion) bid for Zodiac in May, saying the deal would boost its position in making smarter and more connected aircraft, targeting planemakers such as Airbus (>> Airbus SE) and Boeing (>> Boeing Company (The)).

The Safran-Zodiac deal is one of several in the aerospace industry at the moment. Among these are United Technologies Corp's $23 billion plan to buy avionics maker Rockwell Collins Inc (>> Rockwell Collins, Inc.).

(Reporting by Robert-Jan Bartunek; Editing by Alastair Macdonald)

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -0.01% 94.96 Real-time Quote.16.52%
BOEING COMPANY (THE) 4.19% 342.86 Delayed Quote.14.90%
ROCKWELL COLLINS 0.20% 133.3 Delayed Quote.-1.71%
ZODIAC AEROSPACE 0.00%-End-of-day quote.-0.40%
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Financials (€)
Sales 2018 18 862 M
EBIT 2018 2 648 M
Net income 2018 1 931 M
Debt 2018 4 714 M
Yield 2018 1,92%
P/E ratio 2018 19,77
P/E ratio 2019 16,93
EV / Sales 2018 2,25x
EV / Sales 2019 1,97x
Capitalization 37 733 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 92,6 €
Spread / Average Target 2,2%
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Managers
NameTitle
Philippe Petitcolin Chief Executive Officer & Director
Ross McInnes Chairman
Bernard-Pierre Jacques Delpit Chief Financial Officer
Jean-Marc Forneri Independent Director
Patrick Gandil Director
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