General Electric near deal to buy Italy's Avio: sources
MILAN (Reuters) - General Electric Co (GE.N) is near a deal to acquire Italy's Avio, a privately held airplane parts supplier, people familiar with the situation on Friday.
"General Electric is in pole position; it's working on the details of the deal," said a person familiar with the situation.
The sale is being managed by Cinven, a private equity fund that controls Avio.
"It will be a busy weekend," said another person.
The sources did not provide any further details.
Press reports have valued the company at more than 3 billion euros.
France's Safran SA (SAF.PA), with interests in airplanes, aerospace and defense, has also been in talks to buy Avio.
(Reporting by Elisa Anzolin, Massimo Gaia; Editing by Gerald E. McCormick)
NEW YORK - The Dow and the S&P 500 finished lower for the fourth consecutive session on Wednesday after investors found few reasons to make big moves, with uncertainty remaining over when the Federal Reserve will start to slow its stimulus. | Video
- U.S. small businesses boosted borrowing in October to its highest level in over six years, an index showed on Tuesday, fresh evidence that the budget battle that shut the federal government for 16 days did little to derail underlying economic growth.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.