Safran Pays $404M For United's Goodrich Electric Unit

Law360, New York (October 16, 2012, 3:13 PM EDT) -- French aircraft equipment maker Safran SA will scoop up United Technologies Corp.'s electric power systems unit in a €310 million (US$404 million) deal as part of United's mandated divestiture of certain assets tied to an earlier acquisition, the pair said Tuesday.

When United last year landed approvals for its $16.5 billion purchase of aircraft-components manufacturer Goodrich Corp., it agreed to sell Goodrich Electric Power Systems, a supplier of on-board electrical power systems for aircraft.

Regulators also called for the sale of a second unit, Goodrich's pumps...
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