Finmeccanica press release
Finmeccanica Finance S.A., a Finmeccanica Group (“Finmeccanica”) company, Fondo Strategico Italiano S.p.A. (“FSI”), Avio SpA (“Avio”) and the parent company BCV Investments S.C.A., have reached an agreement - subject to the condition that Avio be listed on the Italian stock exchange within 2012 ("Avio IPO") - which will allow FSI to become a shareholder of Avio with a stable ownership of approximately 15% by participating to the initial global public offering that will include a share capital increase of Avio, and by purchasing all the shares held by Finmeccanica. The net proceeds from the disposal of Finmeccanica shares will be based on the IPO pricing.
The transaction between Finmeccanica (controlled by the Italian Ministry of the Economy and Finance) and FSI (controlled by Cassa Depositi e Prestiti which is in turn controlled by the Italian Ministry of the Economy and Finance), would - if carried out - represent a related parties transaction, which would benefit from the exemption granted to ordinary transactions completed at fair market value, under art. 13, paragraph 3, letter c) of Consob Regulation No. 17221/2010 and art. 11.2 letter c) of the Procedure approved by the Company on 26.11.2010.
Avio is a leading company in the creation, development and production of sub-systems, components and spare parts, related equipment and support services for aircraft and automobile derived motors, it also develops and produces components and complete transport systems for the space sector.