Aircraft
Piaggio Aero Commissioners Narrow Potential Bidders
Process now moves to due diligence phase
Piaggio factory in Villanova d'Albenga (Photo: Piaggio Aerospace)
In the next phase of the sale of Piaggio Aerospace, 13 potential bidders were permitted to conduct due diligence through the end of August with the goal of having a binding contract from the would-be buyer in hand by the end of 2023. (Photo: Piaggio Aerospace)

Piaggio Aerospace has entered the next phase in the long quest to find a buyer, with the company’s extraordinary commissions narrowing the field of potential bidders who may enter due diligence to 13. Some 18 potential bidders had expressed interest in acquiring Piaggio Aero Industries and Piaggio Aviation, the two companies that operate collectively as Piaggio Aerospace.

Officials handling the bankruptcy proceedings reopened bidding in early May after a previous effort to close a deal failed last year. The expressions of interest were due by June 19.

In this article