Safran 2.35% stake sold by French government for EUR 1.24bn
The French government, via its agency Agence des participations de l'État (APE) announced the closing of the sale of 10,410,000 shares (i.e. 2.35% of the capital) in Safran [EPA: SAF]. This operation will fetch the State approximately EUR 1.24bn. At the end of this transaction, the State will remain the largest shareholder of Safran, with 10.81% of the share capital and approximately 17.67% of the voting rights.
Pursuant to the provisions of Article 31-2 of Ordinance No. 2014-948 of 20 August 2014 on the governance and capital transactions of companies with public participation, 1,156,667 additional shares (i.e. 0.26% capital) will be offered to employees and former employees of the group.
The proceeds from the sale will be used to fund the innovation and industry fund, dedicated to the financing of breakthrough innovations.
Link to French-language press release