Leonardo increases its stake in Avio, an Italian aerospace company operating in the sector of launchers and propulsion applied to launch systems, missiles and satellites.
The company led by Alessandro Profumo announced that it has completed the purchase operations of 988.475 Avio shares for 14 million euro. In percentage terms it is about a share of 3,75%, thanks to which Leonardo reaches 29,63% of the share capital di Aviation.
“The transaction represents a further consolidation of Leonardo's role as Avio's industrial partner and of Leonardo's position in a relevant, strategic sector with important development prospects such as Space, in particular as regards the launcher segment, also thanks to Italy's significant contribution to European collaboration programmes”, writes Leonardo in a note. Following the news, in Piazza Affari Avio shares are running, gaining 4,62% to 14,94 euros. Above parity (+0,16% to 6,206 euros) the title Leonardo on a difficult day for the Ftse Mib. The main index of the Milan Stock Exchange has in fact started trading down by 3% and in the middle of the day it dropped by 0,9% to 18.721 points. What weighs is the concern for the new coronavirus infections in China which are holding on to the arrival of a second wave that would bring Italy and the European economies to their knees.
