Baykar Signs Preliminary Contract for Piaggio Purchase

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Baykar Technologies has signed a preliminary agreement to acquire Italy’s Piaggio Aerospace, marking a significant step toward completing the asset transfer. The company was selected as the preferred bidder by Italy’s Ministry of Enterprises and Made in Italy on December 27, 2024. Piaggio Aerospace, encompassing Piaggio Aero Industries and Piaggio Aviation, has been under extraordinary administration since 2018. The acquisition, expected to close in spring 2025, is contingent on meeting several conditions, including approval from Italy’s Council of Ministers under the ‘Golden Power’ law. This move highlights Baykar’s strategic expansion into aviation manufacturing on an international scale.

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