The state has initiated the sale of 3.96% of the capital of the Safran group with the ability to increase this to 4.55%, announced Monday, March 2 Michel Sapin, Minister of Finance, and Emmanuel Macron, Minister of the economy.
The sale takes the form of an accelerated placement with institutional investors. After this operation, the state will remain the largest shareholder of the aerospace supplier with 18.03% of its capital.
“CONTRIBUTING TO THE EFFORT DEBT”
“The sale is part of an active management policy interests of the state, which should help preserve heritage and strategic interests of the state while generating resources to contribute to debt reduction effort and reinvest in growth sectors of economic development ventures, “ explains Michel Sapin and Emmanuel Macron, in a joint statement.
This sale, which covers a total of 16.5 million shares, representing an amount of about one billion euros, the action Safran trading at 63.76 euros at the close of the Paris Stock Exchange on Monday.
On Wednesday, the CEO of Safran, Jean-Paul Herteman, leaving the group in late April, had welcomed the “very very good results” group and best “Outlook for 2015″.
In 2014, the turnover of the aerospace equipment grew by 6.9% to $ 15.355 billion. At the same time, the net profit of the group was $ 1.25 billion, up 4.9%. According to Mr Herteman, the group’s turnover is expected to grow by 7% in 2015 to 9%
Read also our decryption. Participations: bad accounts of the shareholder State
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