Join        Login             Stock Quote

General Electric (GE) Reportedly In Talks To Buy Italy's Avio From Cinven

 November 23, 2012 09:14 AM

(By Balaseshan) General Electric Co. (NYSE: GE) is in talks to buy Italy's Avio SpA from buyout firm Cinven Ltd. that rejected offer from two private-equity funds, according to a report from Bloomberg.

CVC Capital Partners Ltd. and Clessidra SGR SpA doesn't plan to revise their offer of about $3.9 billion for Avio, leaving GE to pursue the acquisition, the Bloomberg reported citing people familiar with the discussions.

Cinven is also considering holding an initial public offering of Avio next year, the people told the Bloomberg.

[Related -General Electric Company (GE) Q4 Earnings Preview: Feeling The January Effect]

Cinven began preparing Avio for a sale last year when it hired banks to manage an IPO of the company, according to the Bloomberg. Cinven purchased Avio, based in Turin, Italy, in 2006 from Carlyle Group (NASDAQ: CG) and Finmeccanica SpA in a deal that valued the company at about 2.6 billion euros.

In 2003, the Fiat Group sold Fiat Avio S.p.A. to a consortium formed by Carlyle Group and Finmeccanica. At the time, Fiat Avio was valued at 1.5 billion euros and changed its corporate name to Avio SpA.

GE is a diversified technology and financial services company. The products and services of the company range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. Its segments include Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.

[Related -General Electric Company (GE): GE Shares At An Inflection Point]

GE closed Wednesday's regular session at $20.68. The stock has been trading between $14.68 and $23.18 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

article imageIs The Slump In US Manufacturing Easing?

Yesterday’s November survey data from the Philadelphia Fed hints at the possibility that a stronger trend read on...

article imageMarket Potentially Facing Near Term Technical Headwinds

After the S&P 500 Index pullback on Thursday and Friday last week, the market's advance on Monday and read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.