June 6 (Reuters) - French jet engine maker and defence
company Safran said on Thursday it had received
clearance from Italy to buy Microtecnica, the company which
holds Collins Aerospace's flight control assets in the country.
Italy had previously blocked the planned $1.8 billion
purchase, saying it could have threatened supplies to national
armed force while interrupting logistics chains.
"Safran made a number of commitments, which are compatible
with the targeted objectives of this acquisition, and which
address the concerns expressed in the initial Italian decree of
Nov. 16, 2023 and provide adequate safeguards of the Italian
national interests," the company said on Thursday.
Safran said it would still need to get some clearances, such
as merger control, to complete the deal.
"We see these hurdles as likely limited given that Safran
is not currently a significant player in flight controls &
actuators," Jefferies wrote in a note to clients.