By Mauro Orru

Safran SA entered into negotiations with French aerospace-and-defense company Thales SA to acquire its aeronautical electrical systems business, in a deal that is set to expand Safran's portfolio in electrical power generation, particularly in the defense and helicopter markets.

The French aerospace-industry supplier said Monday that Thales's aeronautical electrical systems business, which employs some 600 people, generated revenue of 124 million euros ($123.5 million) in 2021.

Safran expects a potential deal to take place in 2023.

For Thales, a deal would allow the group to refocus on its core businesses in aerospace, defense and security, and digital identity and security.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

September 05, 2022 13:15 ET (17:15 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Thales (EU:HO)
Historical Stock Chart
Von Mär 2024 bis Apr 2024 Click Here for more Thales Charts.
Thales (EU:HO)
Historical Stock Chart
Von Apr 2023 bis Apr 2024 Click Here for more Thales Charts.