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Thursday 17 January, 2008

Safran

A new shareholder for Sagem Communications; SAF...

PR Newswire/Les Echos/
 
                               A new shareholder for Sagem Communications
                  SAFRAN finalizes transfer to The Gores Group



 Paris, January 17, 2008

SAFRAN and The Gores Group have finalized the acquisition by The Gores Group of 
the company
Sagem Communications for 383 millions euros.

The transfer agreement was signed on January 16, following consultations with 
all unions and after
receiving the necessary authorizations from French and European authorities. 
The transaction will
take effect on January 25.

At that time, The Gores Group will be the majority shareholder in Sagem 
Communications. Among
the minority shareholders, about 20% of the capital will be held by a group of 
employees and
management, and 10% by SAFRAN.

Sagem Communications' core businesses are broadband communications and 
convergence
activities, including printing terminals, digital TV set-top boxes, broadband 
and residential
terminals, telecom systems and partnerships.

The company has 6,500 employees worldwide, and posted sales of 1.2 billion 
euros in 2007.

Xavier Lagarde, a member of the SAFRAN Executive Board and head of the Group's
Communications branch, said: 'The Gores Group can provide Sagem Communications 
with the
resources needed to develop its business and seize current market opportunities
, enabling it to
reach critical mass and play a top-tier role in the global market.'

Jean-Paul Herteman, Chief Executive Officer of SAFRAN, said: 'We are satisfied 
with this solution,
since it protects the interests of both SAFRAN's shareholders and the customers 
and employees of
Sagem Communications. This transaction is a first step in the refocusing of 
SAFRAN's business on
its three growth markets, namely aerospace, defense and security.'




SAFRAN is an international high-technology group with four core businesses: 
Aerospace
Propulsion, Aircraft Equipment, Defense Security, and Communications. It has 
more than 63,000
employees in over 30 countries, and annual revenues of 12 billion euros. The 
SAFRAN Group
comprises a number of companies with prestigious brand names, and holds, alone 
or in
partnership, global or European leadership positions in all of its markets.




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Press Contact
Direction de la Communication                                                   
Jocelyne TERRIEN

2, bd du Général Martial Valin                                               
  
Tel +33 (0)1 40 60 80 28
75724 Paris Cedex 15 - France                                                   
Mob 33 (0)6 07 83 59 73

www.safran-group.com                                                           
jocelyne.terrien@safran.fr



                         
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