BRUSSELS, March 19 (Reuters) - French engine and
aircraft equipment maker Safran has offered the sale of
a business in North America which it agreed in December, as a
remedy to address EU concerns about its $1.8 billion bid for
Collins Aerospace's flight controls business, a person with
direct knowledge of the matter said on Wednesday.
Safran submitted its offer to the European Commission last
Friday which subsequently sought feedback from rivals and
customers before it decides whether to accept the proposal,
demand more concessions or open a four-month long investigation.
The EU antitrust watchdog asked whether there are suitable
buyers for Safran's electromechanical actuation business in
North America, the person said.
Safran already agreed to sell the unit in December,
including its intellectual property, operations assets, staff,
and customer agreements for its horizontal stabilizer trim
actuation systems, to U.S. aircraft parts maker Woodward. The
Commission's questionnaire did not mention Woodward, the person
said.
Actuators convert electronic instructions from the cockpit
to the physical movement of parts to help control aircraft, for
example by providing extra lift during landing.
Safran referred to its December 20 announcement on its
agreement with Woodward, when asked to comment. It said at the
time it expected the deal to complete mid-2025.
Respondents have been given until Thursday to comment on the
offer. Collins is Safran's biggest deal since it acquired seat
maker Zodiac in 2018.