December 21, 2017 / 5:01 PM / a month ago

Abu Dhabi's Mubadala to inject 255 mln euros in Piaggio Aerospace

MILAN, Dec 21 (Reuters) - Italy’s Piaggio Aerospace said on Thursday its Abu Dhabi owner, sovereign wealth fund Mubadala, would inject 255 million euros ($303 million) in the company, as part of the group’s five-year plan.

* strategy includes a “complete financial restructuring”, including a total buyback of the group’s debt from banks

* group will start new production strategy for its P180 turbojet and will evaluate potential partnerships

* will sell its Maintenance Repair and Overhaul (MRO) business. ($1 = 0.8426 euros) (Reporting by Giulia Segreti)

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