Thales to buy stakes in DCN naval shipbuilder

20th March 2007, Comments 0 comments

BRUSSELS, March 20, 2007 (AFP) - EU regulators approved on Tuesday French defence supplier Thales' plans to take a 25-percent stake in French state-owned military shipyard DCN.

BRUSSELS, March 20, 2007 (AFP) - EU regulators approved on Tuesday French defence supplier Thales' plans to take a 25-percent stake in French state-owned military shipyard DCN.

The European Commission, the EU's competition watchdog, said it "concluded that the transaction would not significantly impede effective competition" in Europe.

Under the terms of the agreement, Thales is to transfer its naval shipyard activities to DCN in return for the stake, which was previously held by the state.

DCN manufactures warships and submarines and supplies defence computer systems and advanced technology. It counts the French navy as its main customer but also supplies more than 40 navies across the world.

Thales, formerly known as Thomson-CSF, is a supplier of electronics to the defence and security sectors. It is quoted on the French stock exchange and is 31.3-percent owned by the French state.

Copyright AFP

Subject: French news

0 Comments To This Article