On May 24, 2017 Safran has announced its intention to implement a €2.3 billion ordinary share buyback program to run over the two years following completion of the tender offer for Zodiac Aerospace shares. To date, Safran already contributed 11.4 million shares to its program for a total of €1.22 billion.
On January 10, Safran has entered into an agreement with an investment service provider for a follow-on repurchase tranche. According to this agreement, Safran will acquire up to €600 million worth of ordinary shares no later than May 10, 2019. The average price per share will be determined based on the mean volume-weighted market price observed during the entire duration of the agreement. The unit price may not exceed the maximum of €140 per share set by the November 27, 2018 shareholders’ meeting.
