Mercedes-AMG sells its stake in MV Agusta
link : Mercedes-AMG sells its stake in MV Agusta
Mercedes-AMG sells its stake in MV Agusta
Mercedes-AMG has sold its 25 per cent stake in motorbike manufacturer MV Agusta.
In a statement this week, MV Agusta announced it had repurchased AMG’s 25 per cent stake in the company. Simultaneously, MV Agusta’s holding company has accepted ComSar Invest “as a strong minority shareholder”.
Giovanni Castiglioni, current owner of MV Agusta, will maintain a controlling interest in the company.
ComSar Invest is part of the Black Ocean group owned by Timur Sardarov, the son of Rashid Sardarov, a Russian billionaire who made his fortune in oil.
The company says AMG’s divestment and the cash injection from Sardarov is “another important element to [the company’s] deep turnaround plan started in 2016, based on the repositioning of the MV Agusta as a prime producer of super premium motorcycles”.
AMG purchased 25 per cent of the Italian bike maker in 2014, reportedly for around 30 million euros ($44 million) around two years after Ducati was bought out by Audi.
The partnership between AMG and MV Agusta resulted in the Italian company’s bikes being sold through some Mercedes-Benz dealerships, and the odd show bike.
A report in April suggested the Volkswagen Group had appointed an advisory firm to help it find a buyer for Ducati. Recently Reuters named Harley-Davidson as the most likely buyer of the Italian bike firm.
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