The Italian defence group Finmeccanica, and private equity giant Carlyle Group have sold aerospace engine maker Avio to Cinven. The enterprise value of the deal is EUR 2.57bn. Finmeccanica's stake of 30% will be sold for EUR 430m. At the same time, the group will buy back a 15% shareholding for a reported EUR 150m. It will also have the option to increase its stake to the original 30% before the closing the transaction, which is expected to be before the end of the year, pending approval from the regulatory authorities.
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater