Safran SA ADROTCPK - Current
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  • Wed, Jul. 20, 11:58 AM
    • The European Union approves Airbus (OTCPK:EADSF, OTCPK:EADSY) and Safran's (OTC:SAFRF, OTCPK:SAFRY) joint takeover of Europe’s premier rocket launch company Arianespace on condition that the companies implement measures to prevent the exchange of sensitive information.
    • The companies agree to put in place firewalls between Airbus and Arianespace to prevent information flows that could hurt competitors, not to share information about outside companies with each other that does not apply to the daily operation of the business, and to restrict employee mobility between the companies.
    • The EU decision, which was expected, likely will result in Airbus Safran's payment of ~€150M ($166M) to the French space agency CNES, which holds the 35% stake on behalf of the French government.
    | Wed, Jul. 20, 11:58 AM
  • Thu, Apr. 21, 8:54 AM
    • Safran (OTCPK:SAFRY) has agreed to sell its U.S.-based Morpho Detection unit and related activities to the Smiths Group (OTCPK:SMGZY) for an enterprise value of $710M.
    • The business will become part of Smiths' Detection division, which designs and manufactures sensors that identify explosives, weapons, chemical agents and other contraband.
    • Now read Safran Is A Great Company But It's Fully Priced
    | Thu, Apr. 21, 8:54 AM
  • Oct. 16, 2012, 7:15 AM

    Continuing to try and erase much of the debt it took on for the Goodrich acquisition, United Technologies (UTX) unloads Goodrich's electric power systems business to Safran (SAFRY.PK) for $400M. The deal is subject to regulatory approval in the U.S., EU, and China. (PR)

    | Oct. 16, 2012, 7:15 AM