Safran (NYSE Euronext Paris: SAF) announced that it finalized the acquisition from Rolls-Royce of Rolls-Royce’s 50% share in their joint RTM322 helicopter engine programme. The cash consideration for the transaction amounts to Euro 293 million.

Henceforth, Turbomeca (Safran’s world leading helicopter engine business) will assume global responsibility for the design, production, product support and services (spares and MRO services – maintenance, repair, overhaul) for the RTM322 engine, which powers the Apache, EH101 and NH90 helicopters. Rolls-Royce will provide full support during a transition phase enabling progressive transfer of all their activities to Turbomeca under this programme.

The RTM322 is a priority programme for Turbomeca and the company is committed to the continued technical and commercial development of this programme to improve its global performance, as well as to investments to serve in the long term the strategic market segment of the most powerful helicopter turbines (3,000 shp and above).

The objectives and financial details of the transaction were described in the April 23, 2013 announcement of its signature.