In a sudden announcement to its shareholders, MV Agusta, the financially troubled Italian motorcycle manufacturer, said Mercedes-AMG has divested itself of its 25% stake. The German car maker’s quarter share of the Varese, Italy, firm has been sold to ComSar Invest, part of the Black Ocean group owned by Russian Timur Sardarov, who has interests in the oil and gas sector.
This signals an end to the sales and marketing partnership the two firms signed in 2014, but appeared to be souring when MV Agusta was hit by lawsuits and a forced production slow down last year. However, Giovanni Castiglioni, president and majority owner of MV Agusta said the company was back on financial track after some restructuring.
A statement released by MV Agusta said, “The new shareholding structure of MV Agusta Holding, which will control 100 per cent 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.”
No numbers were released in the announcement, but it was stated there would be a capital increase, along with a focus on MV Agusta’s core business, the production of high-performance, high end motorcycles. According to reports, Mercedes-AMG bought its 25% stake in MV Agusta for 30 million euro (RM149 million) in November 2014.
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When something is like a cancer, better sell it. This is a message to DRB also. Better sell your remaining 49.9 percent of Proton. It is a big cancer. 12,000 overbloated staff only produce 60k cars per annum
Most companies in Thailand only got 5000 staff but produce 500,000 cars per annum
Then what wud they need for the remainder 1.1% share?
Must be too malu to say they sold for 1 rupiah.
Proton also cannot tahan ini motor company, merc think they can aaa?
Mercedes sell because they hold “only” 25% shares hence cannot “control” MV Agusta.
Agree with you that P1 sell because cannot tahan.
MV Agusta is a jinxed company..the company’s shares have been been transfered to numerous entities over the years..kena mandi bunga sikit..
Proton plz buy back MV Agusta.
On what reason for P1 to repurchase MV?
Mv Agusta is run by conmens… Proton, Harley Davidson and now AMG all has been burned by the Castiglioni family.
Yet pipu say ini salah P1…
Sold for 1 rupiah…
Building a business from scratch is not a walk in the park.To maintain and make it more successful is another journey.Its far from easy.To know that this brand has been sold,bought back,selling shares for equity to a bigger brand such as Mercedes,selling it back now to a big investment company.The fact that they can still achieve this is already a good sign that the Brand has gotten to a certain level which is very hard to get to i the first place.I believe this brand have what it takes to be successful in the industry after going through what they have gone through.Good job Mv Agusta.I look forward to owning this machine one day.