Baykar Receives Permission From Italian Authorities To Purchase Piaggio Aerospace

On Friday, December 27th, Baykar, the private military drone manufacturer based in Istanbul, Turkey, revealed it has received approval from various Italian authorities to purchase Piaggio Aerospace. As reported by AIN Online, the Ministry of Enterprises and Made in Italy approved the acquisition on Friday, December 27th. This was the final hurdle for Baykar to acquire the major general aviation manufacturer known as Piaggio Aerospace, which is an Italian manufacturer. The company itself has been in receivership since 2018 after it ran into significant financial struggles. However, financial details of the transaction have yet to be publicly disclosed.