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GE Buys Avio Aviation Unit for $4.3 Billion

Deal will strengthen GE's supply chain as it makes more jet engines.

By Robert Wall and Marco Bertacche, Bloomberg | Updated on December 21, 2012

General Electric Co., the biggest maker of jet engines, agreed to buy the aerospace-parts business of Avio SpA for $4.3 billion, tightening control over its supply chain as planemakers boost output.

The purchase from Cinven Ltd. and Finmeccanica SpA values Turin-based Avio at 8.5 times estimated earnings for 2012 before interest, tax, depreciation and amortization, according to GE, which won’t be acquiring the Italian company’s space assets.

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