By the closing deadline of Friday 29 May, Piaggio Aerospace received 19 expressions of interest (EOI), accompanied by a large volume of documentation, for the purchase of the business complexes of Piaggio Aero Industries and Piaggio Aviation. Both companies are currently under extraordinary administration and operating under the Piaggio Aerospace brand.
“EOIs were submitted from all over the world,” says Vincenzo Nicastro, the extraordinary commissioner. “In particular they came from North America, Europe and the Far East. This confirms the levels of interest in the group and its growth potential, although some possibly interested parties could have been discouraged by the current pandemic.”
According to Nicastro, who will soon examine the files to assess their eligibility to the tender, most of the applicants are interested in the whole group. Those showing the necessary requirements will then be allowed access to the data room in order to assess the value of Piaggio Aerospace and, if their interest is confirmed, submit their binding offers. The buyer will then be selected.
Piaggio's main goal is to find a new owner for the whole company by the end of the year.
After the recently signed long-term agreement with the Italian Ministry of Defence for the support of the P.180 air fleet of the Armed Forces, Piaggio is offering potential buyers a 640 million euro order book. Additional orders are under negotiation for a further 260 million euros.