Piaggio Aerospace opens its data room to 5 new potential buyers
The sale
process of the business complexes of Piaggio
Aero Industries and Piaggio Aviation
- the two companies in extraordinary administration that operate under the Piaggio Aerospace brand - enters a new
phase. The company’s Commissioner Vincenzo
Nicastro, after having completed the evaluation of the credentials submitted,
announced that he has admitted to the due diligence 5 new subjects among the 11
who had expressed their interest, thus officially reopening the virtual data room
of the Company.
Potential
buyers will now have until April 28 to get the needed information on the two
companies: at the end of this period, a new window of 30 days will open, within
which potential offers will have to be submitted.
"In
agreement with the Ministry for Economic Development, we want the process to
proceed quickly and without exceptions," explained Nicastro. "This
does not mean that we will not carefully evaluate the offers that will arrive,
identifying a new owner for the company able not only to recognize its fair
value but also to propose a long-term strategy, safeguarding both skills and
employment ".
The official
reopening of the terms of the tender for the sale of the Piaggio Aero
Industries and Piaggio Aviation business complexes was announced by
Commissioner Nicastro in the middle of last January, after a long exclusive
negotiation with a European group of investors had not ended up in an offer
that was in line with the tender rules. The deadline for the presentation of
new expressions of interest was 28 February, 28.
The Group's
industrial performance remains positive: at the end of 2021, after revenues
exceeding 154 million euro, the order backlog amounts to 446 million euro, with
a further approximately 115 million expected to arrive in 2022 from orders
close to being signed.