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Italian Prime Minister Draghi could apply the Golden Power to the sale of Alpi Aviation

November 19, 2021


Abstract : According to Reuters, the Italian Government is drawing up a warning notice to be sent to all the parties that could lead to the failure of the sale agreement regarding 75% of the Friuli-based company's equity to Chinese investors.

MILAN, Nov. 18 (Class Editori) -- Italian Government led by Draghi is ready to apply the Golden Power to the sale of Alpi Aviation to a Chinese Group. According to Reuters, the Government is drawing up a warning notice to be sent to all the parties that could lead to the failure of the sale agreement regarding 75% of the Friuli-based company's equity to Chinese investors.

The whole event concerns the acquisition of Alpi Aviation by China Corporate United Investment Holding, directly controlled by the Chinese Government.

The operation includes the transfer of tech know-how to a plant based in the PRC.

Alpi Aviation Group is a supplier of the Italian army and is, therefore, subjected to specific controls and surveillance. The Guardia di Finanza, namely the Italian finance police, already reported three Italian and three Chinese managers.

According to the Wall Street Journal, Italian authorities had no knowledge of the move. Draghi Government could once again make use of the so-called Golden Power, as already happened when it decided to block the purchase of VERISEM, the Romagna-based company producing seeds, and, previously, of 70% of LPE, a Milanese company active in the semiconductor sector, respectively by Chinese Syngenta and Shenzhen Investment Holdings. Recourse to Golden Power was also mentioned in the case of Chinese FAW Group interested in Iveco. Negotiations with Exor-owned CNH Industrial finally came to naught, after weeks of stances taken by parties and ministers against the operation.

(Source:Class Editori)

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