Safran Started Process to Sell its Morpho Unit -- Report

By Inti Landauro

PARIS--French aerospace, defense and security company Safran SA (SAF.FR) has begun the sale of safety unit Morpho, part of a plan to focus more squarely on airplane-engine manufacturing, Le Figaro reported Wednesday, without citing any sources.

Safran hired investment banks Societe Generale and Lazard to find a buyer for Morpho, a company that sells systems to identify fingerprints among other security products, the newspaper said.

Potential buyers have until mid-June to submit bids for Morpho, Le Figaro said, adding technology firms such as Atos SE (ATO.FR), Gemalto NV (GTO.AE) and Oberthur Technologies are interested. Private equity firms such as Eurazeo (RF.FR), Wendel SA (MF.FR), KKR, Apollo or Carlyle could also bid for Morpho, the newspaper said, citing unidentified sources.

Safran already sold last month another unit Morpho Detection to Smiths Group (SMIN.LN) for $710 million.

A Safran spokeswoman didn't return a phone call seeking comment.

Newspaper Web site: http://www.lefigaro.fr

-Write to Inti Landauro at [e-mail]

(END) Dow Jones Newswires

May 18, 2016 02:58 ET (06:58 GMT)

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