SAFRY - Safran nears deal to buy Raytheon's flight-control division for about $1B: Bloomberg

2023-06-05 10:07:22 ET

Safran ( OTCPK:SAFRF ) ( OTCPK:SAFRY ) is close to an agreement to buy acquire a unit of Raytheon Technologies ( NYSE: RTX ) that makes products including flight controls, Bloomberg News reported Monday, citing people with knowledge of the matter said.

The French aerospace company is hammering out the final terms of a deal for the Raytheon ( RTX ) actuation unit that could value the business at about $1 billion, according to Bloomberg News.

Raytheon ( RTX ) in January was said to be looking into a sale of the unit. A purchase agreement would be Safran’s ( OTCPK:SAFRF ) ( OTCPK:SAFRY ) biggest deal since acquiring plane-seat maker Zodiac Aerospace for about €9 billion ($9.6 billion) including debt in 2017.

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