MILAN Dec 7 General Electric Co 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
France's Safran SA, with interests in airplanes,
aerospace and defense, has also been in talks to buy Avio.