Reuters claims that Fimmeccanica, an Italian defense group and Cinven, a private equity fund, will acquire a minimum of five offers for Avio Spazio, a satellite propulsion unit. Along with two unidentified operators from the United States and Germany, French German consortium EADS and French groups Safran and Thales will propose preliminary offers for the company by the end of June.
Avio Spazio's worth is estimated to be Euro300 and 400 million euros according to II Sole. It produces propulsion technology used to launch and maneuver space satellites. Cinven owns about 81 percent of Avio Spazo while Finmeccanica owns 14.3 percent.
Cinven and Finmeccanica declined to comment. On the other hand, there were no replies from Thales and EADS to emails asking for comments.
Safran announced its interest in buying Avio Spazio in February.
In the previous year, Cinven and Fenmeccanica made a deal to General Electric Co (GE.N) to sell their Avio core aeronautics unit for 3.3 billion euros. ($1 = 0.7564 euros)
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