Italy authorizes Golden Power in Piaggio Aerospace transaction

23 October 2017

The Italian government is to use its “golden power” to block or approve the sale of Piaggio Aerospace’s commercial aircraft product line.

A decision made by Italy’s Council of Ministers on 19 October approved a motion by Minister of Defence Roberta Pinotti to potentially exercise the government’s golden power in the sale of the commercial aircraft operations to PAC Investments SA.

Under Italian law, the government can impose specific conditions on the sale where national security and defence sales are concerned, as well as impose monitoring and control measures to ensure the compliance of the government’s approval through the golden power process.

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