Fondo Strategico agrees to buy Avio stake from Finmeccanica

Following the flotation, two members of Fondo Strategico will replace Finmeccanica representatives on the Avio board.

Finmeccanica reduced its stake in Avio from 30% to 15% in 2006 as part of Cinven's secondary buyout of the firm. In 2011, Cinven stated its intention to list the company "as soon as possible".

Fondo Strategico is a freshly launched state-backed private equity firm; it recently completed its maiden investments totalling €650m.

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• Topics
• Southern Europe
• Expansion
• Italy
• Fondo Strategico Italiano
• Cinven