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Business/Financial

CFIUS Okays Safran Acquisition of L-1

Defense Daily Staff

Wednesday, July 20th, 2011

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L-1 Identity Solutions [ID] yesterday that a United States oversight group has approved its acquisition by France’s Safran Group with the deal expected to close within five business days. L-1 last September said that it had agreed to sell its identity solutions business to Safran for about $1.1 billion and its intelligence services business to Britain’s BAE Systems for about $300 million (Defense Daily, Sept. 21, 2010). The transaction with BAE closed in February (Defense Daily, Feb. 16). L-1 initially…

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