Finmeccanica is said to be in advanced talks with the Franco-German group EADS to take over the space division of Avio. According to rumors from Il Sole 24 Ore, the alliance is expected to make an offer of 240 million euros.
The space division is the last left in the hands of Avio – controlled by the British fund Civen (81%) through the Luxembourg-based BCV Investments – after the sale of aeronautical engines to General Electric.
The Italian defense group aims to have the majority, 51%, even if it is not yet clear whether the other party has accepted this condition. For Finmeccanica, which already owns 14,3%, it would have to spend around 50 million to get beyond the 90% threshold. The Finmeccanica-Eads offer would be preferred over that of Safran which in Paris yielded 0,21%. EADS, on the other hand, falls by 1,07%
"I believe that the situation of Avio Spazio is being examined by the main European aerospace groups and we as a Government are interested in enhancing this important asset which is a jewel of the industry and of the sector", commented the economic adviser to the prime minister, Fabrizio Pagani .
The Italian government, the main shareholder of Finmeccanica, wants to enhance Avio Spazio.
Around midday, Finmeccanica shares gained 1,36% in Piazza Affari.
