Saudi PIF in Talks to Invest in Leonardo’s Aerostructures Unit

Saudi Arabia’s sovereign wealth fund is in talks to invest in Leonardo SpA’s aerostructures unit, according to people familiar with the matter, in a deal that would give the Gulf state greater exposure to a key industrial segment.

The talks between the Public Investment Fund and Italy’s Leonardo are at an early stage and no agreement is assured, the people said, asking not to be named discussing non-public matters.

One possible outcome is for the Italian aerospace firm to build a civil aviation manufacturing plant in Saudi Arabia, the people said.