Piaggio Aerospace receives four offers to buy the company’s business complexes

Four entities replied positively to the invitation to file non-binding offers for the acquisition of the business complexes of Piaggio Aero Industries and Piaggio Aviation, the two companies in extraordinary administration operating under the Piaggio Aerospace brand.

The proposals arrived on the table of the Piaggio Aerospace Commissioner Vincenzo Nicastro by the deadline of 6 pm last Friday: in the upcoming weeks, they will be assessed by the Commissioner himself in cooperation with a team of experts. This analysis will be sent to the Ministry for Economic Development in order to be able to start - having received the relevant authorizations - negotiations with whoever presented the best project. Negotiations are expected to last a maximum of one month to eventually arrive to an irrevocable and binding offer.

“We have received a wide range of proposals”, commented Commissioner Nicastro. "Now the most delicate stage begins, which I hope will lead to identifying the best solution in the interest of Piaggio Aerospace, its employees as well as the company’s creditors”.

The solicitations to submit offers had been delivered to the five subjects who had explicitly confirmed their interest in purchasing the company and reaffirmed their willingness to take over the business in its entirety.