# French jet engine maker Safran gets Italy’s clearance to buy Microtecnica
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-06-06
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: Safran receives Italy's clearance to buy Microtecnica
Meta Description: French jet engine maker Safran gets approval to acquire Microtecnica, addressing concerns and safeguarding Italian national interests.
URL: https://startupobserver.com/french-jet-engine-maker-safran-gets-italys-clearance-to-buy-microtecnica/

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(Reuters) – French jet engine maker and defence company Safran said on Thursday it had received clearance from Italy to buy Microtecnica, the company which holds Collins Aerospace’s flight control assets in the country.

Italy had previously blocked the planned $1.8 billion purchase, saying it could have threatened supplies to national armed force while interrupting logistics chains.

“Safran made a number of commitments, which are compatible with the targeted objectives of this acquisition, and which address the concerns expressed in the initial Italian decree of Nov. 16, 2023 and provide adequate safeguards of the Italian national interests,” the company said on Thursday.

Safran said it would still need to get some clearances, such as merger control, to complete the deal.

“‍We see these hurdles as likely limited given that Safran is not currently a significant player in flight controls & actuators,” Jefferies wrote in a note to clients.

(Reporting by Olivier Sorgho; editing by Jason Neely and Rashmi Aich)


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