GE (GE) is reportedly in negotiations to buy Italian defense company Avio from P-E firm Cinven,...

|By:, SA News Editor

GE (GE) is reportedly in negotiations to buy Italian defense company Avio from P-E firm Cinven, which has rejected an offer of around €3B from CVC and Clessidra. The two buyout companies are not planning to increase their bid, leaving GE to pursue the deal, although Cinven could hold an IPO for Avio next year. The contractor makes components for GE jet engines, including the latter's newest product, the GEnx.