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Business Air News Bulletin
Business Air News Bulletin
The monthly news publication for aviation professionals.
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Piaggio Aerospace
Aircraft

P180 Avanti

BAN's World Gazetteer

Italy
The monthly news publication for aviation professionals.

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Piaggio receives 18 expressions of interest for purchase
EOIs arrived from Europe and North America and some from the Far East. Approximately half of the total was submitted by businesses with Italian headquarters. Most of the parties confirmed their interest in buying.
In the next few days, the commissioners will closely examine the documents received and decide which parties will be admitted to the bidding.

Piaggio Aerospace's extraordinary commissioners have received 18 expressions of interest (EOIs) for the purchase of Piaggio Aero Industries and Piaggio Aviation, both operating under the Piaggio Aerospace brand and currently under extraordinary administration. The deadline to submit the requested documents expired on 19 June.

“The market is sending us encouraging signals,” say the commissioners Mr Carmelo Cosentino, Mr Vincenzo Nicastro and Mr Gianpaolo Davide Rossetti. “Most of the EOIs were submitted by prominent business parties. This acknowledges once again the attention for a national strategic company with a significant potential, especially considering the latest developments on sustainable mobility.”

Many EOIs arrived from Europe and North America and some from the Far East. Notably, approximately half of the total number was submitted by businesses with Italian headquarters. Most of the parties confirmed their interest in buying the assets of both companies in their entirety.

In the next few days, the commissioners will closely examine the documents received and decide which parties will be admitted to the bidding. Those with the necessary requirements will then be given access to the data room in order for them to assess Piaggio Aerospace's value and possibly submit their binding offers. Lastly, the final purchaser will be selected.

The commissioners confirmed that the primary focus is urgently identifying a new owner, hopefully by the end of the year, that is able to ensure the company's prospective continuity and stability.

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