Fiat Avio sale gets EU competition clearance

Newswire

BRUSSELS, Aug 19 (Reuters) - The European Commission said on Tuesday it had approved the sale of Fiat's Avio aviation unit to private equity fund the Carlyle Group and Italian state-controlled defence firm Finmeccanica . "The Commission found that the operation did not raise any competition concerns as the activities of the parties do not overlap," it said in a statement. Carlyle will hold 70 percent of Avio's shares and Finmeccanica will hold 30 percent, but the companies will exercise ...

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