Tata buys one-third stake in Piaggio Aero
United Arab Emirates: Monday, October 06 - 2008 at 10:35
India's Tata has agreed to buy a one-third share of Italy's Piaggio Aero Industries, manufacturer of the Avanti II turboprop twin. The proposed investment by Tata, which is expected to receive regulatory and other approvals later this week, includes the purchase of existing shares from current shareholders and a new share offering. The Ferrari and Di Mase families and the Mubadala Development Co of Abu Dhabi, the current primary shareholders of Piaggio, will also hold about one third each of the Italian company when the deal is finalized.
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Jeff Florian, Senior ReporterMonday, October 06 - 2008 at 10:35 UAE local time (GMT+4)
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