Aero Vodochody sold to Penta

The government on Wednesday approved the sale of the state-owned plane manufacturer Aero Vodochody to the investment group Penta for the price of 2.91 billion crowns. The second highest bid by the consortium PPF and JT was 1,2 billion crowns lower. Penta sees Aero's main potential in cooperating with leading world producers of aircraft and aircraft parts. It now has three restructuring priorities: development and production of aircraft and components within broader cooperation projects, construction of airport Vodochody and cooperation with the Czech army.