PR Newswire/Les Echos/ Press release Safran acquires GE's residual stake in Morpho Detection Inc. Paris, December 4, 2012 - Safran (NYSE Euronext Paris: SAF) announces the acquisition of General Electric's residual 19% stake in Morpho Detection Inc. (MDI). 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 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. For more information, www.safran-group.com / Follow @SAFRAN on Twitter Press Catherine Malek +33 (0)1 40 60 80 28 firstname.lastname@example.org Investor Relations Pascal Bantegnie +33 (0)1 40 60 80 45 email@example.com Peter Campbell +33 (0)1 40 60 35 96 firstname.lastname@example.org Antoine-Pierre de Grammont +33 (0)1 40 60 80 47 email@example.com Safran group 2, bd du Général Martial Valin 75724 Paris Cedex 15 - France The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication. -0- Dec/04/2012 08:17 GMT
Safran announces the acquisition of General Electric’s residual 19% stake in Morpho Detection Inc.