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Safran Acquires GE’s Residual Stake in Morpho Detection, Inc. - Safran announces the acquisition of General Electric’s residual 19% stake in Morpho Detection Inc. (MDI) (NYSE Euronext Paris: SAF) - Safran-Group.com
Safran Acquires GE’s Residual Stake in Morpho Detection, Inc.

 

PRZOOM - /newswire/ - Paris, France, 2012/12/04 - Safran announces the acquisition of General Electric’s residual 19% stake in Morpho Detection Inc. (MDI) (NYSE Euronext Paris: SAF) - Safran-Group.com. PAR: SAF | SAFRAN

   
 
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The operation results from the exercise of an option provided for in September 2009 when Safran acquired 81% of MDI from General Electric.

The residual 19% stake is valued at Euro 90 million and its purchase is financed by Safran’s available cash in the current fiscal year.

Morpho USA now owns 100% of Morpho Detection Inc. Morpho is the subsidiary of Safran dedicated to Security.

Safran (safran-group.com) is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Safran group has close to 60,000 employees and generated sales of 11.7 billion euros in 2011. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.3 billion euros in 2011. Safran is listed on NYSE Euronext Paris and is part of the CAC40 index.

SAFRAN Contact

Pascal Bantegnie, Investor Relations
T: +33(0)1 40 60 80 45 - E: pascal.bantegnie[.]safran.fr.

Peter Campbell
T: +33(0)1 40 60 35 96 - E: peter.campbell[.]safran.fr.

Antoine-Pierre de Grammont
T: +33(0)1 40 60 80 47 - E: antoine-pierre.degrammont[.]safran.fr.

 
 
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Agency / Source: Safran Group

 
 

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Safran Acquires GE’s Residual Stake in Morpho Detection, Inc.

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Safran Group |
Contact: Catherine Malek - Safran.fr 
+33(0)1 40 60 80 28 catherine.malek[.]safran.fr
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Safran Group securities in any jurisdiction including any other companies listed or named in this release.

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