Safran to buy Zodiac Aerospace in $10 billion deal January 19, 2017 - 17:16 AMT PanARMENIAN.Net - Aircraft-engine company Safran has agreed to buy seat and cabin manufacturer Zodiac Aerospace in a deal worth 9.7 billion euros ($10.3 billion), including debt, The Associated Press reports. The companies, both based in or around Paris, announced Thursday, January 19 the creation of a "new global leader in aerospace." Safran will offer 29.47 euros per share, which is 26.4 percent above Zodiac's closing share price Wednesday. If it gets more than 50 percent of the share capital, it will then merge the rest of the shares on the basis of 0.485 Safran shares for one Zodiac share. Safran shareholders will also receive a special dividend of 5.5 euros per share. The deal, supported by the French state, requires shareholders' approval. French President Francois Hollande said in statement that the deal "will strengthen the French aeronautics industry."  Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.   Partner news |  Latest news Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
