MV Agusta Equity Investment Deal Done!
Press Release
Varese, July 24th 2017 – MV Agusta Holding consolidates its equity investment through ComSar Invest; an investment fund part of Black Ocean Group, owned by Timur Sardarov, a Russian dynasty key player in the production of oil and gas in East Europe.
Along with the transaction, MV Agusta Holding announces the purchase of the 25% shares held by Mercedes AMG in the historic Italian motorcycle manufacturer MV Agusta Motor S.p.A.. The closing of the deal, whose financial terms are not disclosed, is set simultaneously to the capital increase of MV Agusta Holding in MV Agusta Motor S.p.A. expected at homologation of the company restructuring plan, which has been approved by the quorum of the creditors.
The new shareholding structure of MV Agusta Holding, which will control 100% of MV Agusta Motor S.p.A., will see ComSar Invest as a strong minority shareholder and GC Holding, the investment company of Giovanni Castiglioni, owning the controlling stake.
The finalization of the transaction adds another important element to MV Agusta deep turnaround plan started in 2016, based on the repositioning of the MV Agusta as a prime producer of super premium motorcycles, that brought the company back to positive Ebitda.
Giovanni Castiglioni, President of MV Agusta, commented: “The transaction with ComSar Invest in our holding company through a capital increase and the acquisition of the shares previously held by Mercedes AMG in MV Agusta Motor S.p.A., represents an important milestone for our plan which has as a main objective the reinforcement of MV Agusta core business: the production of high-performance, high end motorcycles. In the last 12 months the implemented measures, has brought MV Agusta back in positive cash flow generation, allowing to complete the restructuring plan and to consistently support product development and consolidation of our key markets.”
Timur Sardarov, controlling shareholder of ComSar Invest: “MV Agusta is for us the most iconic brand in the industry; a company that in the last 5 years has invested heavily in new product development creating a extensive, enviable range of motorcycles which results today is a unique asset for a successful future. Our presence in the capital, with a clear long-term vision, as well as in the key management of the company, has the objective, through our core competences and skills to support and strengthen MV Agusta in the coming years consolidating its position of super premium motorcycle producer. We will focus our funding to reinforce MV Agusta sales network and service and our knowledge in the technology fields, web and marketing to reach and enhance new markets, strengthen our digital and social presence enlarging MV Agusta’s consumer base.”
Thanks for Reading
If you don’t already subscribe to Motorcycle Mojo we ask that you seriously think about it. We are Canada’s last mainstream motorcycle magazine that continuously provides a print and digital issue on a regular basis.
We offer exclusive content created by riders, for riders.
Our editorial staff consists of experienced industry veterans that produce trusted and respected coverage for readers from every walk of life.
Motorcycle Mojo Magazine is an award winning publication that provides premium content guaranteed to be of interest to every motorcycle enthusiast. Whether you prefer cruisers or adventure-touring, vintage or the latest models; riding round the world or just to work, Motorcycle Mojo covers every aspect of the motorcycle experience. Each issue of Motorcycle Mojo contains tests of new models, feature travel stories, compelling human interest articles, technical exposés, product reviews, as well as unique perspectives by regular columnists on safety or just everyday situations that may be stressful at the time but turn into fabulous campfire stories.
Thanks for considering a subscription. The Mojo team truly appreciates it.