Negotiations for the sale of Avio are blocked. Those between the possible buyers and Cinven, the private equity owner of the aerospace company, have stalled on the price of the operation. There are also strong fears of possible political interference in the face of the prospect of the purchase of an Italian company by a foreign group.
The fund would have wanted to collect 3,5 billion euros without resorting to an IPO. The list of interested companies includes Safran, General Electric, German MTU and private equity groups such as Bain, CVC and Clayton Dubilier & Rice. “Cinven remains focused on the IPO in 2012 – explains a company spokeswoman -. There are no concrete negotiations at the moment and probably no imminent agreement is about to be sealed”.
Despite the unfavorable market conditions, the Italian authorities would prefer Avio to be listed on Piazza Affari. This solution, in fact, would allow the State to maintain a certain control over the company, through Finmeccanica and the Cassa Depositi e Prestiti, public investees which hold a stake in Avio's capital.
