Safran Announces Second Tranche of Share Buyback for Cancellation

On September 20, 2024, Safran (Euronext Paris: SAF) entered into an agreement with an investment services provider for a Euro 500 million share buyback for cancellation. This marks the second tranche of their announced Euro 1 billion buyback plan, set for execution between 2024 and 2025. The initial tranche amounted to Euro 250 million and was completed in July and August 2024.

Under the terms of the new agreement, Safran will repurchase its own shares from September 23, 2024, until no later than December 11, 2024. The operation adheres to the authorization provided at the shareholders' General Meeting on May 23, 2024, which set the maximum purchase price at Euro 300 per share.

Safran is an international high-tech company in aviation, defense, and space markets, with a workforce of 92,000 employees. The group reported sales of Euro 23.2 billion in 2023 and maintains a strong focus on R&D to support its environmental and innovation goals. Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.