Finmeccanicca to but GKN’s stake in Agusta

 - October 2, 2007, 10:56 AM

Italy’s Finmeccanica, which owns 50 percent of AgustaWestland, reportedly plans to become sole owner of the Anglo-Italian helicopter company by buying London-based GKN’s 50-percent share. The statement came at GKN’s annual meeting, where stakeholders blamed AgustaWestland for causing interim profits to fall “somewhat below” those achieved a year before. A Finmeccanica spokesman declined to confirm the news at press time, but such an acquisition would fit the group’s stated aim of focusing on aerospace and defense.