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Industry

Mubadala reportedly looking to sell part of Piaggio Aerospace

27 September 2017

The United Arab Emirates's (UAE’s) Mubadala is looking to sell the commercial business of Italian aircraft manufacturer Piaggio Aerospace, Reuters reported on 26 September.

Citing undisclosed sources, the report said that a state-backed consortium of Chinese firms is having their bid evaluated by the Italian government. The planned divestment by Mubadala would reportedly see the firm first sell the production licence, followed by the intellectual property.

A Piaggio Aerospace spokesperson declined to comment on the report.

Piaggio Aerospace is involved in civil and military aerospace, with the Piaggio P.180 Avanti aircraft being used as an executive/VIP aircraft. The P.180 Avanti II has been adapted into a military support aircraft, with the company developing a Multirole Patrol Aircraft (MPA) variant and unmanned version, the P.1HH HammerHead.

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