September 30, 2022

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Piaggio Aerospace reopens the data room: there’s room for five other potential buyers

P180 Avanti Evo from Piaggio Aerospace

authorized Vincenzo Nicastro Five new subordinates authorized due diligence of commercial complexes Biagio Aero Industries And the Piaggio AviationCompanies operating under the trade name Biagio Aerospace Which is in receivership, and thus officially reopen data room virtual company.

Potential buyers will have until April 28 to obtain information about the company. After that, they will have an additional 30 days to submit a binding purchase offer.

Commissioner Nicastro announced in mid-January the reopening of the tender conditions for the sale of the Piaggio Aero Industries and Piaggio Aviation business complexes, after lengthy exclusive negotiations with a group of European investors that did not materialize in an offer in line with the bid regulations. The deadline for submission of new expressions of interest closed last February 28.

The group’s industrial trends remain positive: at the end of 2021, after the increase in sales 154 million eurosorders are delayed up to 446 million euroswith approximately 115 million additional to arrive during 2022 of orders close to signing.

“In agreement with the Ministry of Economic Development, we want this second operation to proceed quickly and without exceptions,” explains Commissioner Vincenzo Nicastro. “The fact remains that we will carefully evaluate the offers that will come to us, with the goal of identifying a new owner of the business who is not only able to recognize the right value, but is also able to propose a long-term strategy, protection of skills and employment.”

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