Fiat hopes to close Avio sale this weekend

Newswire

TURIN, June 26 (Reuters) - Fiat plans to complete the long-planned sale of its aviation unit Fiat Avio this weekend, the group's Chief Executive Giuseppe Morchio said on Thursday. Fiat in April signed a memorandum of understanding to sell Fiat Avio to U.S. private equity fund Carlyle and Italian defence group Finmeccanica in a deal worth 1.6 billion euros including debt.

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