A few weeks after the installation of the two new Commissioners Carmelo Cosentino and Davide Rossetti – called to integrate the commissioner body led until then by the sole Commissioner Vincenzo Nicastro – and after receiving authorization from the Ministry of Enterprise and Made in Italy (MIMIT), the new tender for the sale of the assets of Piaggio Aereo and Piaggio Aviation begins. the two companies under extraordinary administration operating under the Piaggio Aerospace brand.
With the publication of the related announcement – which will appear tomorrow 10 May on some Italian and international economic-financial newspapers as well as on the website of the Extraordinary Administration – the terms for expressing interest in the acquisition of the Group’s business complexes are therefore officially reopened.
According to the call, the new subjects interested in taking over the assets of the two companies – which although belonging to two different legal entities, constitute a unicum from an industrial point of view – will have until 12 June 2023 to send the required documentation. The tight schedule of the procedure provides that, after this deadline, only the subjects deemed suitable are authorized to access the data room for due diligence for about thirty days. We will then proceed to the solicitation of binding offers, to finally arrive at the selection of the most appropriate offer.
The Minister of Enterprise and Made in Italy Adolfo Urso has simultaneously extended by one year the deadline for the execution of the Asset Sale Program, which is now set at May 13, 2024.
“Our goal”, explained the Extraordinary Commissioners, “is to find the best industrial solution for Piaggio Aerospace in the shortest possible time, identifying a potential buyer – also at international level – who, in addition to recognising the right value of the Group, can guarantee production continuity, specific expertise, maintaining employment and financial reliability”. Piaggio Aerospace presents itself to potential investors with a backlog, between orders and commitments, which to date amounts to approximately 556 million euro.
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