GE acquires Avio's aviation division (becomes Avio Aero); space/launcher business continues as Avio S.p.A.
- Seller
- Avio
- Buyer
- General Electric
Event context
General Electric agreed in Dec 2012 to acquire the aviation (aircraft-engine components) division of Italy's Avio S.p.A.; the deal closed Aug 1, 2013 for EUR3.3 billion, becoming GE Avio Aero (part of GE Aerospace). Avio's space/launcher division (Vega rocket prime contractor, Ariane subcontractor) was not part of the sale and continued as the independent Avio S.p.A., owned by Cinven and Leonardo.