Italy approves Safran's acquisition of Collins Aerospace's flight control business after last year's veto

Italy has approved Safran's $1.8bn acquisition of Collin Aerospace's Italian-based actuation and flight control subsidiary business Microtecnica on June 6, 2024. It comes after Italy had vetoed the acquisition on November 16, 2023, with reports citing government concerns over supplies to armed forces and contracts for the Eurofighter programme. Safran said it has made a ""number of commitments, which are compatible with the targeted objectives of this acquisition"" and address Italy's concerns. It said it had provided ""adequate safeguards of the Italian national interests"". Safran added: ""Furthermore, in the United Kingdom, the secretary of state has received the notification made under the national security and investment act and has informed Safran that he will take no further action in relation to the proposed acquisition. This constitutes an unconditional clearance."" The completion of the acquisition is still awaiting other regulatory approvals.