Avio passes to the Americans of General Electric. The official announcement is expected today. Late yesterday evening, the US company announced a press conference "for the presentation of an important acquisition agreement". The appointment is for this morning at the Borsa Italiana headquarters.
According to the latest press rumors, General Electric will pay about 3 billion euros to the Cinven fund and Finmeccanica to buy their shares in the aerospace company (81% and 14% respectively). The real target of the Americans would be the activities related to the avionics business.
Thus ends one months of negotiation, with a succession of twists and turns: from the announced IPO to the offer by private equity funds CVC and Clessidra supported by the Italian strategic fund, then rejected because it was judged too low (3 billion euros for the entire group, including the debt net of 1,44 billion), until the last head-to-head between two industrial giants, Ge on one side and the French Safran on the other.
This morning at the opening in Piazza Afffari, the Finmeccanica share travels in the red by 0,7%.
