At the end of a first phase of negotiations, Fiat and the Carlyle Group signed a memorandum of understanding for the sale of all the aerospace operations of FiatAvio. 

Exclusive due diligence activities will begin in the next few days and will last approximately five weeks. 

Negotiations with Carlyle are based on an enterprise value of 1.6 billion euros. Once the necessary resolutions will have been passed, Finmeccanica will also participate in the negotiations as an industrial partner.

FiatAvio has 14 facilities, 9 research centers and over 5,000 employees. In 2002 the company reported revenues of 1,534 million euros and an operating income of 210 million euros.