Piper Quietly Acquired By Sultan Of Brunei | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 08.29.16

Airborne 08.30.16

Airborne 08.31.16

Airborne 08.25.16

Airborne 08.26.16

Airborne Hi-Def On YouTube

Airborne 08.29.16

Airborne 08.30.16

Airborne 08.31.16

Airborne 08.25.16

Airborne 08.26.16

Tweet Us The Coolest Things You See @OSH16!
#OSH16Coolest!

It's Alive!: AirVenture 2016 Innovation Preview on Vimeo!

It's Alive!: AirVenture 2016 Innovation Preview on YouTube!

 

Fri, Dec 16, 2011

Piper Quietly Acquired By Sultan Of Brunei

Imprimis Has Sold The Florida Planemaker To The Brunei Finance Ministry

Piper has apparently very quietly been sold to one of the world's richest men ... the Sultan of Brunei. The previous owner ... Singapore-based investment holding company Imprimis ... says on its website "We divested our interests in Piper Aircraft and Piper Capital in October 2011."

The revelation comes just after Piper went to the Indian River County government seeking relief from repayment of some incentives it was offered when it opened its Vero Beach plant in 2008. The sale to the Sultan was not mentioned in the request to re-open negotiations on the incentive package.

VeroNews.com reports that in response to an e-mail, Imprimis managing partner Stephen Berger would only say that "Piper is owned by the Government of Brunei." He later said in a prepared statement that all of the management rights and equity interests had been transferred to the Brunei Finance Ministry. Berger also resigned as Chairman of Piper Aircraft Inc.

The changes apparently occurred as Piper was shuffling its top management in mid October. Simon Caldecott replaced Geoffery Berger (Stephen's brother) as CEO, and EVP Randy Groom left the company. In an interview with ANN, Caldecott indicated he was not at liberty to say what had led to the latest top management reorganization. Shortly thereafter, the plug was pulled on the Piper Altaire jet project.

Indian River County Administrator Joe Baird told the paper that he is not worried about the company being owned by the Government of Brunei. He said that he'd be far more concerned if the new owner was not a resource-rich county like the oil-producing Sultanate.

FMI: www.piper.com

Advertisement

More News

Airborne 08.29.16: sUAS Rules Get REAL, Pilots To The Rescue, ISS Update

Also: AA MD-80s, A320 Birdstrike, SWA Picketed, Randy Babbitt, STEREO Mission, Prince Harry v Poachers, ANA Dreamliners August 29 is a big day as it relates to recreational and non>[...]

Cheesy--Or Just Plain Dishonest? FlyQ Email Suggests ForeFlight Offer--But Isn't

Recent E-Mailing Suggests One Product... But Is Actually Something Else Altogether ANN has made much of the fact that we, as a community, need to be able to depend on one another a>[...]

ANN's Daily Aero-Term (08.30.16): Advisory Frequency

The appropriate frequency to be used for Airport Advisory Service.>[...]

Aero-News: Quote of the Day (08.30.16)

“we’ve reached another significant milestone. With the small UAS rule now in effect, the commercial drone industry is cleared for takeoff.” Source: AUVSI presiden>[...]

ANN FAQ: How To Get YOUR News Out On Aero-News

Good News, Bad News... It's ALL News As the preeminent online aviation news resource out there, the editorial staff at Aero-News sees a large number of news releases. We look at al>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC