Safran's offer bids to win EU approval for Collins Aerospace deal

Collins Aerospace has a hub for commercial aircraft at Shannon while it has a research and technology centre at Penrose Quay in Cork

French engine and aircraft equipment maker Safran has offered remedies in an attempt to secure EU antitrust approval for its $1.8bn bid for Collins Aerospace's flight controls business. Collins has Irish interests in Shannon and at Penrose Quay in Cork.

French engine and aircraft equipment maker Safran has offered remedies in an attempt to secure EU antitrust approval for its $1.8bn (€1.65bn) bid for Collins Aerospace's flight controls business, an update on the European Commission website said on Monday.

Collins Aerospace has a repair hub for electrical generator components for commercial aircraft at Shannon while it has a research and technology centre at Penrose Quay in Cork as part of its global technology and open innovation resource team for Europe, the US, and Asia.

The EU competition enforcer, which did not provide details in line with its policy, extended its decision deadline on Safran's bid for the US company to April 4 from March 21. It is now expected to seek feedback from rivals and customers before deciding whether to accept the concession, demand more, or open a four-month long investigation.

Safran in December announced the sale of its electromechanical actuation business in North America, which includes its intellectual property, operations assets, staff, and customer agreements for HSTA systems, to US aircraft parts maker Woodward. It said the deal was related to the Collins acquisition.

The EU antitrust watchdog had in February asked rivals and customers whether the deal would give Safran more market power, a person familiar with the familiar told Reuters.

Reuters