Proton Holdings has sold it’s 57.57 percent stake in MV Agusta Spa to an Italian company Gevi Spa. Gevi Spa will assume MV Agusta’s debts and working capital requirements totalling 139.44 million euros, as announced today to Bursa Malaysia by Proton Holdings as part of it’s non-core asset divesting exercise.

Interesting to note that Proton originally acquired MV Agusta Spa last year on July 7 2004 for 70 million Euro, and finally sold it for a token sum of 1 Euro (RM4.48).