18 expressions of interest were received by the Piaggio Aerospace Commissioners for the purchase of the corporate complexes of Piaggio Aero Industries and Piaggio Aviation, the two companies under extraordinary administration operating under the Piaggio Aerospace brand. The deadline for submitting the necessary documents had expired at 6 pm Italian time yesterday, June 19.
“The signal coming to us from this phase of the procedure is very encouraging”, commented Commissioners Carmelo Cosentino, Vincenzo Nicastro and Gianpaolo Davide Rossetti. “In addition to the high number of expressions of interest received, important subjects, especially industrialists, have come forward. This confirms the market’s attention to a strategic company for our country and able to express great potential for development, especially if we think of the most recent developments in sustainable mobility”.
Numerous expressions of interest came from Europe and North America, but also from countries of the Far East. The number of subjects based in Italy is particularly high, equal to about half of the total. As in the past phases, the vast majority of companies or consortia that have come forward have declared that they want to acquire the corporate assets of the two companies in their entirety.
In the coming days, the Commissioners will proceed with a detailed analysis of the documentation produced, in order to establish who will be admitted to the tender: the companies that have demonstrated that they have the necessary requirements will then have access to the data room, so that they can thus evaluate in detail the value of Piaggio Aerospace and submit, if they wish, the relative binding offers. Finally, we will move on to the final phase of buyer selection. The primary objective, the Extraordinary Commissioners confirm, remains to identify a new owner for Piaggio Aerospace – able to guarantee a future of continuity and stability for the company – as soon as possible, hopefully by the end of the year.
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