PIF in advanced talks to invest in Leonardo’s aircraft structures unit: Report

Saudi Arabia’s PIF is in advanced talks to invest in the aircraft structures unit of Italy’s Leonardo.

The Public Investment Fund (PIF) is in advanced discussions to invest in the aircraft structures unit of Italy’s Leonardo, Bloomberg reported, citing sources.

Under the potential agreement, the two sides would establish a global aircraft structures business.

According to the sources, negotiations are close to being finalized.

Bloomberg reported last February—also citing sources—that PIF had entered talks to invest in Leonardo’s aerostructures division.

The unit supplies major structural components for the Boeing 787 Dreamliner but has suffered losses partly due to a slowdown in production in the US, which affected activity at Leonardo’s factories.