Abu Dhabi-based Mubadala has taken over the stake in Piaggio Aero held by Tata Limited, giving it a more than 98% holding of the Italian airframer and engine maker. Piaggio confirmed that the Italian government has approved Mubadala’s buyout of Tata’s shares. Piero Ferrari retains a 1.95% holding in the company, but is stepping down as chairman. CEO Alberto Galassi is moving into the role. Mubadala has been a shareholder in Piaggio Aero since 2006. Tata followed in 2008 ...
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