Deals
GE Buys Avio’s Aviation Parts Business for $4.3 Billion
This article is for subscribers only.
General Electric Co., the biggest maker of jet engines, agreed to buy the aerospace-parts business of Avio SpA for $4.3 billion, tightening control over its supply chain as planemakers boost output.
The purchase from Cinven Ltd. and Finmeccanica SpA values Turin-based Avio at 8.5 times estimated earnings for 2012 before interest, tax, depreciation and amortization, according to GE, which won’t be acquiring the Italian company’s space assets.