BRUSSELS, April 4 (Reuters) - French engine and aircraft
equipment maker Safran on Friday secured the green
light from EU antitrust regulators for its $1.8 billion bid for
Collins Aerospace's flight controls business after pledging to
sell a North American actuator business.
Safran announced the deal in 2023, its largest since its
2018 acquisition of seat maker Zodiac seven years ago, to help
it better prepare for the next generation of increasingly
computerised aircraft and expand its portfolio to supply civil
and defence plane makers.
The European Commission said Safran's offer to divest a
business addresses worries that the deal would have reduced
competition in the markets for the supply of trimmable
horizontal stabiliser actuator systems (THSA) and also lead to
higher prices.
"To address the Commission's competition concerns, Safran
offered to divest the entirety of its North American THSA
business, which includes sites in Canada and in the United
States, as well as assets in Mexico," the EU competition
enforcer said in a statement.
The Commission will separately review potential buyer
Woodward which reached a deal to buy the business from Safran
last December.
Reuters was the first to report on imminent EU approval for
the Collins deal. Collins is part of RTX Corp. ( RTX )