EU gives Piaggio green light to buy Aprilia

Newswire

BRUSSELS, Nov 23 (Reuters) - Scooter maker Piaggio won conditional European Commission approval on Tuesday to buy struggling motorcycle maker Aprilia, creating an Italian motorcycle giant that will bring in 1.5 billion euros a year. The loss-making Aprilia, owner of the Moto Guzzi marque, had struggled to repay its debts, and in August agreed to be bought by Piaggio, the maker of iconic Vespa scooters, for an undisclosed sum. "The transaction had raised serious doubts that competition ...

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