(Reuters) – Britain’s competition regulator said on Friday remedies offered by Safran, including sale of parts of its business, could resolve competition concerns relating to its acquisition of a part of aerospace business Collins. Safran has offered to substantially sell all of its business in the design and production of Trimmable Horizontal Stabilizer Actuator systems, […]
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UK antitrust regulator says Safran’s remedies may resolve concerns on Collins deal
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(Reuters) – Britain’s competition regulator said on Friday remedies offered by Safran, including sale of parts of its business, could resolve competition concerns relating to its acquisition of a part of aerospace business Collins.
Safran has offered to substantially sell all of its business in the design and production of Trimmable Horizontal Stabilizer Actuator systems, the Competition and Markets Authority (CMA) said.
The CMA added it would now consider Safran’s undertakings in more detail, including seeking third-party feedback, and if satisfied, will clear the deal.
Reuters reported on Wednesday, citing people with direct knowledge of the matter, that the EU antitrust regulators are set to approve Safran’s $1.8 billion bid for Collins Aerospace’s flight controls business.
Safran agreed to buy the supplier of critical cockpit functions from Collins Aerospace in 2023.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Eileen Soreng and Rashmi Aich)