Italy’s Piaggio Aerospace, which filed for protection from creditors late in 2018, said on Wednesday it had formally invited five bidders to make a purchase offer for the group.

The deadline for the five bidders to file non-binding offers is set for March 5, the company said in a statement, adding they were interested in buying both the group’s aircraft and engine business.

The company’s special administrator Vincenzo Nicastro has sent the letters as a further step in the company’s sale process, which started last year when Piaggio Aerospace initially drew expressions of interest from 19 international bidders.

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