Piaggio Aero plays down UAE link rumors

With Dubai port contracts under debate in the U.S., the Italian and British press are reporting that another United Arab Emirate-owned-company is moving to acquire a 20% share of Piaggio Aero from the Italian Government and the Ferrari family. Mubadala Development, the Abu Dhabi government investment firm, would come under scrutiny from US officials regarding Piaggio Aero’s US military contracts. (Note: today, Piaggio Aero is independent of Piaggio SpA, but, as you surely know, the Vespa scooter was designed and produced by Piaggio’s aircraft division after WWII.)

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