Baykar has completed its acquisition of Piaggio Aerospace, the 140-year-old Italian aviation giant. Under the agreement, Piaggios facilities will serve as a strategic European hub for producing both the P.180 Avanti Evo and Baykars indigenous UCAVs.
Baykar has officially completed its acquisition of Piaggio Aerospace, one of Italys most storied aviation companies, following a signing ceremony in Italy today. The transaction, initiated by the Ministry of Enterprises and Made in Italy on December 27, 2024, has now closed with Golden Power approval from the Italian Prime Ministers Office.
CARRYING A 140-YEAR-OLD LEGACY INTO THE FUTURE
The signing ceremony was attended by the Minister of Enterprises and Made in Italy, Adolfo Urso; Baykar CEO, Haluk Bayraktar; and the Extraordinary Commissioners of Piaggio Aerospace Carmelo Cosentino, Vincenzo Nicastro, and Gianpaolo Davide Rossetti. The transfer marked the beginning of a new chapter that will carry Piaggio Aerospaces 140-year-old legacy.
WE ARE SAFEGUARDING A STRATEGIC INDUSTRIAL ASSET
Speaking at the signing ceremony, the Italian Minister of Enterprises and Made in Italy, Adolfo Urso, highlighted the deals importance for his country: With this operation, we are safeguarding a strategic industrial asset for the country and laying the foundation for a concrete relaunch of the Italian aerospace sector. Piaggio Aerospace can once again play a leading role thanks to a solid industrial plan, new investments, and the enhancement of local expertise. This result demonstrates how the state, through the extraordinary administration and the Golden Power tool, can protect industrial sovereignty while attracting high-quality international investment.
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