July 21 (Reuters) - French engine and aircraft equipment

maker Safran said on Monday it had finalised the

acquisition of flight control and actuation activities from

Collins Aerospace.

Safran, which also makes landing gear, brakes and cabin

interiors, said the transaction is expected to generate around

$50 million of annual run-rate cost synergies by 2028.

Collins Aerospace business, which generated about $1.55

billion in revenue in 2024, will be consolidated into Safran

electronics and defense from August 1, the company added.

"This acquisition offers a unique opportunity to solidify

our position in mission-critical flight control and actuation

functions and create a global leader in this domain," Safran CEO

Olivier Andries said in a statement.

The European Commission cleared the transaction in April,

nearly two years after the deal was first announced.