Avio owner says buyer needs to give growth and jobs guarantees

MILAN Tue Dec 18, 2012 2:06pm EST

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.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.