Reuters – GE to Pay $4.3B for Avio Aviation Biz

U.S. conglomerate General Electric has agreed to buy the aviation business of Italian aerospace company Avio for 3.3 billion euros ($4.3 billion), or 8.5 times Avio's 2012 EBITDA, the companies said on Friday. Avio will strengthen GE's global supply chain capabilities as its engine production rates continue to rise to meet growing customer demand, GE said in a statement on Friday.

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