November 15, 2013 / 8:39 AM / 4 years ago

France sold 4.7 percent of defense group Safran: finance minister

PARIS (Reuters) - The French state has sold a 4.7 percent stake in defense contractor Safran (SAF.PA) in a share placement, generating proceeds of 900 million euros ($1.2 billion), Finance Minister Pierre Moscovici said on Friday.

The share placement was done at 46.30 euros apiece, at the bottom of the range of 46.30-to-market, a 3.6 percent discount from the stock’s closing price of 48.04 euros on Thursday, according to traders.

    Bank of America-Merrill Lynch and Citigroup acted as joint book runners on the deal, traders said.

    France will remain a key shareholder of Safran with at least 22.4 percent, Moscovici said in a statement.

    Shares of Safran were down 3.5 percent, at 46.38 euros on Friday morning.

    Reporting by Blaise Robinson, editing by Geert De Clercq

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below