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Piaggio sale enters final straight as talks with preferred bidder get under way
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By Murdo Morrison2021-02-25T17:38:00+00:00
Five bidders have been asked to submit formal offers for Piaggio Aerospace. It comes a year after the state-appointed commissioner who has run the ailing Italian airframer since 2018 invited applications of interest.
Source: Piaggio Aerospace
Piaggio is based at Villanova D’Albenga, near Genoa
The unnamed companies, from three continents, will formally submit offers for the two entities operating under the Piaggio Aerospace brand by 5 March.
Vincenzo Nicastro says all five have agreed to take over Piaggio as a going concern. “Having five bidders on the shortlist is a very positive result,” he says, given that Covid-19 travel restrictions have made it difficult for suitors to spend time in the business.