French aerospace firm Safran’s proposed $1.8 billion acquisition of Collins Aerospace’s flight-control and actuation arm has advanced after overcoming Italian government objections to part of the sale.
The Italian government last year had opposed the sale of Microtecnica, which held assets in Italy.
But Safran says it subsequently offered a number of commitments which “address the concerns” expressed by the government and “provide adequate safeguards” for Italian national interests.
Microtecnica, based in Turin, has been a supplier of flight-control actuation and engine-control systems to a number of fixed-wing and helicopter programmes.
Safran adds that the UK government, having reviewed the proposed acquisition, is not taking any action.
“This constitute an unconditional clearance,” it says.
Completion of the deal is still subject to further regulatory approvals, notably merger controls. Collins is owned by RTX.
Safran disclosed the acquisition plan in July last year, stating that it would enable the company to offer an “end-to-end” actuation and flight-control portfolio, and provide exposure to “diverse” customer segments.
