Piaggio Aero Sold to Turkey's Baykar: Preliminary Agreement Signed with Ministerial Approval
The sale of Piaggio Aero to Turkish company Baykar has taken a significant step forward with the signing of a preliminary agreement. The deal, which is subject to the Italian government's 'golden power' and has received ministerial approval, is expected to be finalized in the spring. The transaction must now obtain the green light from the Presidency of the Council, marking a major development in the aerospace industry. With this acquisition, Baykar is poised to expand its presence in the global market, leveraging Piaggio Aero's expertise in aircraft manufacturing. Key terms of the agreement include regulatory approvals and economic implications, with the Italian government keen to ensure a smooth transition. The deal is a testament to the growing importance of international cooperation in the aerospace sector.
