AM Online

Fiat Avio disposal close

France's Snecma is tipped to purchase Fiat's aeronautics business Fiat Avio – one of the carmaker's pivotal disposals in its restructuring plan.

According to today's Financial Times, talks for the sale of the business, which should raise around £1bn, are well advanced with the French company, although private equity fund Carlyle and one other investment group remain in the race.

Fiat had initially been reluctant to sell its aeronautics division because of its strong cashflow and steady profitability – but has bowed to creditor bank pressure.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.