PARIS (Reuters) – French state-owned rocket propellant maker SNPE has entered exclusive negotiations to sell its Isochem civil chemicals unit to German investment fund Aurelius, French newspaper Les Echos reported on Thursday.
In addition, the supervisory board of France’s Safran (SAF.PA) could begin formal talks on Dec. 16 to buy SME, SNPE’s core space and military propellant business, the paper said, citing unidentified sources.
Isochem had 2008 sales of 160 million euros.
SNPE had no comment and Safran could not be immediately reached for comment. (Reporting by Dominique Vidalon; editing by Karen Foster)