March 7, 2017 / 2:16 PM / in 5 months

CORRECTED-BRIEF-Leonardo CEO says group to make 7-8 billion euros in cash in 2017-2021

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(Corrects to clarify Leonardo presented an offer for Piaggio Aerospace's engine unit)

March 7 (Reuters) - Italian state-controlled defence company Leonardo Chief Executive Mauro Moretti says:

* Expects group to generate 7-8 billion euros in cash in 2017-2021, 1.5-2 billion euros of which it will use for acquisitions, to reduce debt, and pay back shareholders

* Company has presented an offer for Piaggio Aerospace's engine unit, of which it is a creditor

* CEO said last week the group is looking to complete strategic acquisitions in the next five years and is weighing the option of paying a dividend on 2016 results. Further company coverage: (Reporting by Milan newsroom)

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