What does Proton and Harley-Davidson have in common? In a few weeks time, both would have been owners of the MV Agusta Group, which owns the MV Agusta and Cagiva motorcycle brands.
Harley-Davidson signed an agreement last week to purchase 100% of MV Agusta for 70 million Euros, or roughly 355 million ringgit. This sum includes clearing existing bank debuts of about 45 million Euros, or roughly 228 million ringgit.
MV Agusta will continue to be operated from its Italian HQ but a new leadership team including a new Managing Director will be appointed. Claudio Castiglioni will continue to serve as the group’s Chairman, and Massimo Tamburini will continue as the group’s chief designer. Harley Davidson will also use MV Agusta’s European dealership network to expand its Harley Davidson and Buell motorcycle sales.
“Motorcycles are the heart, soul and passion of Harley-Davidson, Buell and MV Agusta. Both have great products and close connections with incredibly devoted customers. The MV Agusta and Cagiva brands are well-known and highly regarded in Europe. They are synonymous with beautiful, premium, Italian performance motorcycles,” said Harley Davidson CEO Jim Ziemer.
Hat tip to Nahar ARS.