Finmeccanica Finance, a company of the Finmeccanica Group, Fondo Strategico Italiano SpA (FSI), Avio and the parent company BCV Investments, have reached an agreement which will allow FSI to become a shareholder of Avio with a stable stake of around 15%. The agreement is conditional on Avio's listing on the stock exchange, which should take place within 2012 "in the presence of favorable market conditions". In this case, Fsi will participate in the global public offer - which includes a capital increase - and will acquire the entire share of Finmeccanica. The latter it will thus exit from Avio's capital and will withdraw from the sale of its stake a consideration equal to the net placement price.
The operation between Finmeccanica (30,2% controlled by the Ministry of the Economy) e fsi (90% controlled by Cassa Depositi e Prestiti, which in turn is 70% controlled by the Treasury), if this were to occur, would constitute a transaction between related parties, implemented by Finmeccanica SpA through a subsidiary, which would in any case benefit from the exemption envisaged for ordinary transactions concluded at conditions equivalent to those of the market.
Avio is a leading company in the design, development and production of subsystems, components and spare parts, related equipment and support services for engines airplanes and derivative cars, it also develops and manufactures components and complete transport systems in the space sector.
A few minutes after the opening, the Finmeccanica share gained 1,26% to 2,728 euros per share
