
FRANCE - US private equity firm wins exclusivity for Safran's communications unit
The French defence and electronics group has granted The Gores Group a period of exclusisivity for the acquisition of Sagem Communications, following the receipt of a firm EUR 383m offer.
Sagem Communications designs, develops and manufactures a range of electronic products, including residential broadband gateways, set-top boxes for television via internet and digital terrestrial television, and printing terminals (thermal transfer fax machines). The business employs 6,500 staff and generated sales of EUR 1.267bn in 2006.
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