Textron is set to acquire European electric aircraft manufacturer Pipistrel in a foundational move for the new eAviation division it established last year to focus on the development of sustainable aircraft. Through a deal set to close by the end of June, the U.S. aerospace and defense group will pay around €218 million ($242 million) for an initial 90 percent stake in Slovenia-based Pipistrel. Founder and CEO Ivo Boscarol will remain a minority shareholder and emeritus professor for two years, at which point the remaining equity share will revert to Textron.
Announcing the transaction on Thursday, Textron indicated it will make further investments to support Pipistrel’s plans to bring various new electric and hybrid-electric aircraft to market, while also giving it access to the group’s technical and regulatory expertise, as well as its global sales and support network.
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