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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Safran    SAF   FR0000073272

SAFRAN (SAF)
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Safran : EU Commission Clears Safran Takeover of Zodiac

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12/21/2017 | 01:27pm CEST
By Alberto Delclaux 
 

The EU Commission said Thursday that it had approved unconditionally Safran SA's (>> Safran) acquisition of Zodiac Aerospace (>> Zodiac Aerospace), as the deal raised no competition concerns in the relevant markets.

Safran's increased market share as a result of the deal is limited and it will face strong competition from other suppliers in the aircraft electrical-systems market, the commission said.

On markets in which the two companies participate at different stages of the supply chain, the commission said the company won't have the ability or incentive to foreclose third parties.

"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.

The takeover, in which Safran will pay around EUR7.3 billion ($8.7 billion) for Zodiac, was notified to the commission on Nov. 16.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

Stocks mentioned in the article : Safran, Zodiac Aerospace
Stocks mentioned in the article
ChangeLast1st jan.
SAFRAN -1.15% 107.5 Real-time Quote.25.13%
ZODIAC AEROSPACE 0.00%-End-of-day quote.-0.40%
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Financials (€)
Sales 2018 20 592 M
EBIT 2018 2 797 M
Net income 2018 1 902 M
Debt 2018 3 688 M
Yield 2018 1,73%
P/E ratio 2018 22,38
P/E ratio 2019 19,05
EV / Sales 2018 2,36x
EV / Sales 2019 2,14x
Capitalization 44 831 M
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Mean consensus HOLD
Number of Analysts 22
Average target price 117 €
Spread / Average Target 9,1%
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Managers
NameTitle
Philippe Petitcolin Chief Executive Officer & Director
Ross McInnes Chairman
Bernard-Pierre Jacques Delpit Chief Financial Officer
Stéphane Cueille Senior VP-Research, Technology & Innovation
Patrick Gandil Director
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