Piaggio Aerospace looks for a buyer

07.05.2019

The Extraordinary Commissioner of Piaggio Aerospace, Vincenzo Nicastro, wants to implement an initial analysis in order to evaluate the market’s interest in buying the company or one of its business units (Aircraft and Engines) or to conduct a reorganization, in accordance with the “Marzano Law”.

Piaggio Aerospace (in Extraordinary Receivership since last December) published a paid notice in a selected number of financial newspapers after authorization from the Ministry of Economic Development.
During a meeting held in Rome on April 24, 2019, the Italian Ministry of Economic Development and the Ministry of Defence agreed on a plan to support Piaggio Aerospace business activities. The Italian Government indicates the goal on Piaggio Aerospace to conduct all engine maintenance out of one single hub, confirming Piaggio Aerospace as a reliable partner in this specific field. The plan also foresees new contracts for the engine maintenance with a ten-year plan; a contract for the retrofitting of nineteen P.180-Avanti operated by various Italian Institutions and the purchase of ten new P.180-Avanti. All EOI, which are non-binding, should be sent to the Extraordinary Commissioner by mid-May 2019.
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