January 2, 2025 8:48 am
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Shruti Gurudanti, Rose Law Group partner and leader of the firm’s space law practice, weighs in on Turkish drone maker’s acquisition of Italian aircraft company

Photo via Baykar on X (Fka Twitter)

By Reuters

Turkish drone maker Baykar has bought Italian aircraft producer Piaggio Aerospace, Italy’s industry ministry said on Friday, without disclosing financial details.

Piaggio Aerospace – unconnected to Vespa scooters maker Piaggio – had been under government-controlled special administration since filing for protection from creditors in 2018.

In a statement, the ministry said Baykar’s offer for the company had been preferred over two other final and binding bids from international players.

It was deemed the “most suited to guarantee the interests of workers and creditors (of Piaggio Aerospace) and relaunch the group’s industrial prospects”, the ministry said.

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“We will likely see increased M&A activity in the aerospace industry in 2025.” – Shruti Gurudanti, Rose Law Group partner and leader of the firm’s space law practice

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