Piaggio Aerospace: deadline rescheduled to submit final and binding offers

With a notice published on some financial newspapers, Piaggio Aero Industries and Piaggio Aviation’s Extraordinary Commissioners – Mr Carmelo Cosentino, Mr Vincenzo Nicastro and Mr Gianpaolo Davide Rossetti - announced the rescheduling of the deadline to submit final and binding offers for the purchase of all the business complexes conducted by the Companies, both in extraordinary receivership proceedings.

According to the notice, having received the authorisation by the Supervisory Committee and the Ministry of Enterprises and Made in Italy, the Commissioners decided to “reschedule the deadline for all the entities (incorporated as limited companies) […] interested in submitting, or integrating, their final and binding offers”. Such offers, the notice states, “must be submitted […] not later than 6.00 pm CET of 30 January 2024”.

The full text of the notice is available at Piaggio Aerospace in AS.

Piaggio Aerospace designs, develops, manufactures, and maintains aircraft, aircraft engines and structural components. Its history of innovation and progress started in 1884 in Genoa, Italy. A continuous commitment to research and development, combined with innovative design and style, leads the development of Piaggio Aerospace, one of the main players for executive turboprops, Unmanned Aerial Systems and Special Mission aircraft in the global market. The company operates from its aerospace center of excellence in Villanova d’Albenga, Italy, while its Customer Service Department is based in Genoa. In December 2018, the company entered the extraordinary receivership proceedings with the appointment of Vincenzo Nicastro as Extraordinary Commissioner. The same applied later to its subsidiary Piaggio Aviation. According to two different decrees of the Italian Ministry of Enterprises and Made in Italy signed on 1 March 2023, the Group is now led by three Extraordinary Commissioners: the aforementioned Vincenzo Nicastro, Davide Rossetti (coordinator) and Carmelo Cosentino (industry and aviation expert).