Safran to decide ID division buyer by end of September

15/09/16

France-based aviation and defence firm Safran plans to choose a buyer for its ID and biometrics division by the end of September, reports financial papers.

The Morpho biometrics and security business will be sold for more than 2 billion euros($2.5 billion) by the end of September, a person close to the process told Reuters.

"Everything is happening so that it can be done by the end of this month," the person said, asking not to be identified.

In June, Safran narrowed the field to a shortlist of five bidders including digital security rivals Gemalto and Oberthur, reported La Tribune.

Besides SIM card maker Gemalto and Oberthur, which is backed by private equity firm Advent, the French daily said three other funds had been selected by Safran's board on Thursday: KKR, Bain Capital and CVC Capital Partners.

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