Mubadala and Tata up Stake in Piaggio Aero
Mubadala Development Co., an Abu Dhabi-based state-owned entity, increased its stake in Piaggio Aero, a Genoa-based aeronautics company. Mubadala grew their stake from 33% to 41% on November 12, 2013. London-based Tata Ltd., part of the Tata Group, increased their position in Piaggio Aero from 33% to 44.5%. Both firms participated in the subscription increase which totaled to €190 million in value for them.
The Piaggio Aero P.1HH HammerHead is about to debut in Italy at Sicily’s Trapani Air Base. The P.1HH HammerHead is an unmanned aerial system (UAS), otherwise known as a drone. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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