Avio owner says buyer needs to give growth and jobs guarantees
MILAN Dec 18 (Reuters) - The main owner of Italy's Avio said on Wednesday that the group which buys the aerospace supplier will need to provide guarantees on growth opportunities and jobs.
"Whoever wants to acquire control of Avio will... have to offer the same growth and development opportunites, with special attention to employment, ensured over these years by Cinven," the owner said in a statement.
Avio is owned by BCV Investments, in which Cinven private equity has a majority stake.
Sources told Reuters on Wednesday General Electric is set to clinch a deal to buy Avio and that Cinven has ended talks with rival French suitor Safran.
Cinven bought Avio in 2006 in a deal that valued it at about 2.6 billion euros.
Italian defense group Finmeccanica owns a 14 percent stake in Avio.
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Uruguay becomes first country to legalize marijuana trade
- Pope Francis named Time's Person of the Year
- Thousands of South Africans line up to see Mandela lie in state |
- China bitcoin arbitrage ends as traders work around capital controls