Report
Jeffrey Vonk
EUR 101.80 For Business Accounts Only

With Deal Completion on Target, Our Radar Is on Operational Improvement at Zodiac's Seat Business

With Zodiac’s 2017 results set to be published on Oct. 31, our attention is focused on operational improvements at the seat production facilities of Safran's acquisition target. As both firms' boards of directors, 90%-plus of Safran shareholders, and Zodiac's two reference shareholders support the deal, we expect it to close after regulatory approval in first-quarter 2018. Although Safran management's control strengthens our belief in Zodiac’s profitability recovery for its aircraft interiors di...
Underlying
Zodiac Aerospace SA

Zodiac SA. Zodiac Aerospace SA is a France-based aeronautical company engaged in the development of aerospace equipment and systems for commercial, regional and business aircraft, as well as helicopters and space applications. It is structured into three business sectors: Cabin Interiors Segment, which designs and markets seats and cabin fittings, as well as supplies complex sanitary and food equipment; Aircraft Systems Segment, engaged in fields, such as fuel circulation, oxygen & life support, electrical power management, cockpit controls and displays, lighting and actuators, hydraulics and controls, as well as environment control systems; and AeroSafety & Technology Segment, which offers emergency evaluation systems, emergency arresting, interconnect, parachute and protection systems, elastomeric technologies & systems, telemetry, telecommunications and airbags.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jeffrey Vonk

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