Italy: Government says no to sale of Microtecnica
Negotiations to sell an Italian-American company to the French Safran
The Italian Government would have said no to the acquisition of the Microtecnica company (Collins Aerospace Group), which produces components for aircraft, by the French company Safran, specialized in the electronics, defense and aerospace sectors. It was communicated today by the French company itself, which last July had acquired the flight control business of the American company.
"Following this decision, we remain committed to the sale and are working with all parties to determine the appropriate next steps to take. The completion of this acquisition also remains subject to obtaining other customary regulatory approvals and closing conditions" of the deal ."Additional information will be provided where appropriate", said the company in a statement.
AVIONEWS - World Aeronautical Press Agency