Cinven's Avio Spazio attracts trade buyers
Preliminary offers for Avio Spazio, owned by Cinven and Italian defence group Finmeccanica, are expected by the end of June according to reports in the local press.
Five bidders are thought to be lining up for the satellite propulsion unit of Avio. An auction process is being run by BNP Paribas, Rothschild and Unicredit, and has seen interest from French, German and American trade players.
French groups Safran and Thales and Franco-German consortium Eads are understood to be among the bidders.
Cinven exited the aviation business unit of the firm to General Electric in December 2012 for €3.3bn. The latest unit to be put up for sale is valued at €300-400m.
Cinven declined to comment.
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