Safran ready to challenge Italy’s veto on Microtecnica takeover in court

by time news

2023-12-06 10:32:01

The general director of Safran, Olivier Andriès, declares that his group “will remain committed” to this aborted operation in Italy. Francois Bouchon / Le Figaro

The French group believes that Rome’s decision to block the takeover of the Italian subsidiary of Collins Aerospace has no rational basis.

Safran is ready to go on the offensive in the Microtecnica case, the Italian subsidiary of the American group Collins Aerospace. “We are ready to file an appeal with the Italian courts to challenge the veto put by the Meloni government on the takeover of Microtecnica, as part of the acquisition of the flight controls activities of Collins Aerospace», announced this Tuesday evening, Olivier Andriès, general director of Safran, on the sidelines of a trip to Morocco.

«This is one of the three scenarios on the table: a legal action, a political opening in a few days (which would open the way to a solution, Editor’s note) or a renegotiation with Collins of the acquisition, which, this time would exclude the deal» Microtecnica, he continued. Italian activities only represent 15% of the revenue from the assets we wish to buy», Specifies the general director of the French engine and aeronautical equipment manufacturer, of which the state holds 11.23% of the capital.

“Threat to defense and security interests”

Last summer, Safran announced…

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