French aircraft engine maker Safran SA, which supplies Airbus SE and Boeing Co., entered into a definitive agreement to sell its in-flight entertainment and connectivity business to private equity firm Kingswood Capital Management LP.
Terms of the transaction with Los Angeles-based Kingswood weren’t disclosed. The unit, known as Safran Passenger Innovations, generates about $460 million in revenue, employing 740 people in the US and Germany, Safran said in a statement Wednesday.
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‘ Some details of this article were extracted from the following source www.bloomberg.com ’
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