The Italian Council of Ministers canceled the sale of the Italian military drone company Alpi Aviation to the Hong Kong company Mars Information Technology which took place in 2018.
Alpi Aviation is a company that produces military drones, aircraft and spacecraft. It was the subject of an investigation by the Guardia di Finanza of Pordenone for violation of the rules on "Golden Power" as it was disputed that the takeover, with respect to the original Italian property, had been carried out in such a way as not to discover the new Chinese shareholder, with delays in administrative communications and failing to inform the Italian Presidency of the Council of Ministers in advance of the purchase of the majority of the company.
It is the fourth time that the Italian government activates the golden power to block a Chinese takeover.
Avv. Lifang Dong and Avv. Chiara Civitelli
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