After much to-ing and fro-ing, and numerous rumours, it seems to be confirmed that the proposed sale of Italian motorcycle manufacturer Ducati is now off. This was reported on Italian news site, which said Thomas Sedran, Volkwagen’s strategic director, had gone on record at the end of August saying that the sale of assets “was not a priority.”

While no official statement has been issued, sources inside Ducati said the entire saga ended with the closing of the sales dossier in the hands of New York based Evercore Partners. The consulting firm was entrusted with overseeing the sale of the Bologna firm, and identifying suitable buyers.

However, Volkswagen’s advisory board, of which half the seats are occupied by its worker’s unions, along with representatives from the Porsche and Peich families, slammed the brakes on the deal two months ago. The advisory board oversees the sale of any major assets within the the Volkswagen group.

The sale process, in response to possible financial constraints faced by Volkwagen resulting from Dieselgate, began early last year and numerous possible purchasers were identified, among which were motorcycle makers such as Harley-Davidson and India’s Eicher Motors, as well as Italy’s Benetton family. Volkswagen, via car maker Audi, purchased Ducati in 2012 for 962 million euro (RM4.7 billion) and has a current valuation of over 1.5 billion euros (RM7.4 billion), contributing 7% to Audi’s turnover last year.