MV Agusta Holding Regains Control With Russian Investment
MV Agusta Holding has regained 100% control of MV Agusta Motor S.p.A, after buying out Mercedes AMG shares thanks to investment from ComSar Invest, a Russian investment fund that's part of the Black Ocean Group.
Mercedes AMG did own 25% of MV Agusta S.p.A. after German automotive giant Daimler entered into a partnership with MV Agusta in 2014, which included Mercedes-AMG GmbH acquiring a 25% stake in the Italian bike brand.
The controlling stake of MV Agusta Holding will be still be held by GC Holding, the investment company of MV Agusta president Giovanni Castiglioni, while ComSar Invest will be a minority shareholder.
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's core business: the production of high-performance, high-end motorcycles.
"In the last 12 months the implemented measures have brought MV Agusta back in positive cash flow generation, allowing the completion of the restructuring plan and to consistently support product development and consolidation of our key markets.”
MV Agusta has changed hands five times in the last 26 years. This is the next chaper: you may remember back in March 2016, when MV Agusta filed for protection from creditors with alleged debts of €40 million (£36 million).
It seemed to be in bad waters, yet in October 2016, just a few months later, MV Agusta announced fresh backing from the Black Ocean Group, confirming they would narrow their range of motorcycles and focus on producing premium products.
Controlling shareholder of ComSar Invest, Timur Sardarov said: "We will focus our funding to reinforce MV Agusta's 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."