CCM confirms bidding for Gamesa aeronautics arm

CCM confirms bidding for Gamesa aeronautics arm


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Spain savings bank Caja de Ahorros de Castilla-La Mancha (CCM) last week confirmed that it was bidding with Gamesa Corporacion Tecnologica SA’s former CEO Inaki Lopez Gandasegui for the company’s aeronautics division, confirming a report published earlier in Cinco Dias. A CCM spokesman said the savings bank board would be meeting shortly to finalise details for the operation, but declined to provide any specific financial numbers. “Inaki is leading (the deal) and we’re with him,” the spokesman said. Gamesa announced in its 2005 results a 60 million Euro provision for the ailing aeronautics arm, which it put up for sale last year. An ESR analyst said: “Although we don’t know the price offered for the division, we consider it very positive that there is interest from someone who belonged to the group and should know the division very well.” According to Cinco Dias, Gandasegui – who left his CEO position at Gamesa in December – was planning the bid with CCM and other savings banks.

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