Published December 21, 2012
ROME – The Italian government welcomed the acquisition of the aviation unit of aerospace supplier Avio by U.S. giant General Electric , saying on Friday it was a demonstration of Italy's attractiveness to foreign and domestic investors.
GE agreed to buy Avio's aviation division for $4.3 billion from private equity fund Cinven and state-controlled defense group Finmeccanica .
"The operation shows how Italy is becoming a country that is more competitive and more attractive to foreign and Italian investment," Prime Minister Mario Monti's office said in a statement.
(Reporting by James Mackenzie)