General Electric has confirmed it will purchase Italian aero engine specialist Avio SpA from Cinven, a European private equity firm, and government-owned defense group Finmeccanica for €3.3 billion ($4.36 billion). The deal is expected to accelerate growth at Avio, which will now be wrapped up in GE's annual research and development funding of about $1 billion. However, the purchase must first gain regulatory approval. Headquartered in Turin, Avio employs about 4,500 workers who build ...

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