Piaggio Aerospace Transfers Business to Baykar in Major Acquisition Deal
Baykar’s acquisition of Piaggio Aerospace's business complexes marks a significant move in expanding its footprint within the European aerospace industry.
Piaggio Aerospace and Baykar have signed a preliminary contract for the transfer of Piaggio Aerospace's business complexes to the Turkish company Baykar. Baykar is a leader in the development and production of UAV (unmanned aerial vehicle) systems and advanced aerospace technologies.
The Italian Ministry of Enterprise and Made in Italy authorized the transaction on December 27, 2024, as reported by the Piaggio Aerospace portal.
The agreement was signed by Piaggio Aerospace's Extraordinary Commissioners Carmelo Cosentino, Vincenzo Nicastro, and Gianpaolo Davide Rossetti, with assistance from the law firm BonelliErede, and by Baykar's CEO, Haluk Bayraktar, with assistance from the law firm Gianni & Origoni.
The transaction is expected to close in the spring, once a series of conditions are met, including authorization from the Italian Presidency of the Council of Ministers (Golden Power).
In the coming weeks, a consultation with union representatives is also planned, during which, among other things, Baykar will present its plan for the relaunch of the business complexes of the two Italian companies.
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