GE in talks to acquire defense company Avio SpA
Bloomberg reported, citing sources close to the matter, that General Electric is in talks to acquire Italian defense company Avio SpA from private equity firm Cinven, after Cinven refused a previous offer from two other private-equity firms.
Industrial conglomerate General Electric says it will buy the aviation business of Italian manufacturer Avio for $4.3 billion to strengthen its growth in jet propulsion.