Arms Ministry vetoes Segault’s sale to US firm Flowserve
It’s done. Minister for the Armed Forces Sébastien Lecornu was clear on Tuesday afternoon in the National Assembly during the debate of the Military Programming Bill (LPM) on the future of Segalt, this SME specializing in nuclear installations. Boiler rooms on all French nuclear submarines and the aircraft carrier Charles de Gaulle: “Army Ministry to Veto Loss of Operational Control of Segalt” Under the Foreign Investment Program in France (IEF). The announcement was welcomed at Hemicycle, including LFI Deputy, Aurélien Saintoul.
“I didn’t announce it (veto, editor’s note) publicly, but it was done. This is a good example of the device working well,” the minister said.
Acquired by Segalt Management
According to our information, Segalt management is working with financial assistance to acquire this company, which is an important supplier to the Naval Group. The Ministry of Armed Forces was right from the start. “It’s easy for usWe recently reiterated to the Ministry, “We don’t want Segalt to be controlled by an American company.”. However, he pointed out, “Segault will have strong ties with Whalen and Flowserve”. The Texas-based US group wants to buy Segalt’s parent company, Valen. The transaction should be completed by the end of the second quarter.
Out of 325 files submitted to the General Directorate of the Treasury, 194 authorization requests failed in 2022 and 131 operations were approved. However, 53% (i.e. 70) of these 131 measures were accompanied by conditions such as guarantees to protect national interests.