December 7, 2006
On December 1, Willkie client Thales SA signed an agreement to purchase Alcatel SA's satellite, transport signalling and critical infrastructure protection activities in a €1.7 billion ($2.2 billion) share-and-cash deal. The deal provides for Alcatel to relinquish a 67% interest in Alcatel Alenia Space, a satellite-maker joint venture with Italy's Finmeccanica SpA; 33% of Telespazio, a satellite-services group also operated with Finmeccanica; and a train-signalling operation. In return, Thales has promised to issue Alcatel shares worth about €966 million and pay €673 million in cash. Thales is acquiring businesses with annual sales of about €2 billion and about 11,000 employees located mainly in France, Germany, Italy and Canada. Thales is a leading international electronics and systems group, serving defense, aerospace and security markets worldwide, supported by a comprehensive services offering. Segments of the deal will close in January and May 2007. The transaction was handled by partners Daniel Hurstel, Annette Péron, Jacques-Philippe Gunther and Marie-Hélène Raffin, and associate Brice Pommiès.
