June 3, 2020 / 5:32 PM / a month ago

Italy's Piaggio Aerospace draws 19 international bidders

MILAN (Reuters) - Italy’s Piaggio Aerospace, which filed for protection from creditors late in 2018, has drawn expressions of interest from 19 international bidders, the company said on Wednesday.

“Bids came in a bit from all over the world but especially from North America, Europe and the Far East,” the company’s special administrator Vincenzo Nicastro said in a statement.

Nicastro said the vast majority of bidders were interested in taking over the company as a whole, adding the aim was to find a new owner for the group before the end of the year.

The maker of planes and drones has an order book worth 640 million euros while other contracts for 260 million euros are at different stages of negotiation, the company said.

Reporting by Stephen Jewkes; editing by David Evans

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