Harley-Davidson acquires MV Agusta and Cagiva

The American Harley-Davidson (Harley and Buell) has just concluded an agreement for the acquisition of the Italian group MV Agusta (MV Agusta and Cagiva) for a sum of 70 million euros, which includes the assumption of the debt of MV Agusta estimated to 45 million euros.

The American manufacturer Harley-Davidson – which owns the Harley-Davidson and Buell brands – has just concluded an agreement for the acquisition of the Italian group MV Agusta – brands MV Agusta and Cagiva – for a sum of 70 million euros.

This amount, which includes the assumption of the debt of MV Agusta estimated at "Around 45 million euros", will mainly be paid to the Castiglioni family, which controls 95% of Agusta’s capital.

As for the current chairman of the board of directors of MV Agusta Group, Claudio Castiglioni, he should retain his functions after the acquisition, which is to be finalized in a few weeks. Depending on the financial results obtained following the acquisition, Mr. Castiglioni could also receive a variable part by 2016.

MV Agusta Group produced only 5,819 models in 2007 and has "significantly reduced production in 2008, due to financial difficulties", says the press release.

With this acquisition of the MV Agusta group, which will remain based in Varese, Italy, Harley-Davidson pursues its development objective in Europe. "Motorcycles are the heart, soul and passion of Harley-Davidson, Buell and MV Agusta", rejoiced Jim Ziemer, chief executive officer of Harley-Davidson: "the two groups produce good motorcycles and they share incredibly loyal and passionate customers. In Europe, the MV Agusta and Cagiva brands are renowned and synonymous with high-performance, beautiful and top-of-the-range Italian motorcycles".

Next step for Harley-Davidson: appoint a management team with a new general manager and resume production of current models. Claudio Castiglioni will retain a leading role as chairman and Massimo Tamburini, the famous designer, will continue to lead the design studio MV Agusta.

"With Harley-Davidson and his deep knowledge of the emotional and business side of motorcycles, I am very confident that our motorcycles will win over customers for generations.", for his part said Mr. Castiglioni.

Related articles

• Business – Harley-Davidson cuts 1,100 jobs and cuts production by 10 to 13% – Used HARLEY-DAVIDSON

  Harley-Davidson cuts 1,100 jobs , cuts production by 10-13% Harley-Davidson will cut 1,100 jobs in 2009 and 2010, of which 70% should intervene this…

• Business – Interview with Gerard Staedelin, new boss of Harley-Davidson and Buell France – Used HARLEY-DAVIDSON

  Interview with Gerard Staedelin, new boss of Harley-Davidson and Buell France As he prepares to take the helm of Harley-Davidson and Buell in France…

• Business – Harley expects to save $ 150 million per year – Used HARLEY-DAVIDSON

  Harley plans to save $ 150 million a year Following its decision to discontinue Buell and sell MV Agusta (read Site of October 15: Erik Buell announces…

• Business – Proton takes control of MV Agusta – Occasions MV AGUSTA

  Proton takes control of MV Agusta An agreement has been reached between the Malaysian car manufacturer Proton and the Italian group MV Agusta (Cagiva and…

• Business – Interview Timur Sardarov: MV Agusta must improve its quality of service – Occasions CAGIVA MV AGUSTA

  Interview Timur Sardarov: MV Agusta must improve its quality of service Timur Sardarov (s’) has been investing in MV Agusta for a year and a half….

• Business – Interview Giovanni Castiglioni: the future MV Agusta F4 will be … different! – Pre-owned CAGIVA MV AGUSTA

  Interview Giovanni Castiglioni: the future MV Agusta F4 will be … different ! Site interviewed the big boss of MV Agusta, Giovanni Castiglioni, on the…

• Business – Gevi buys MV Agusta for € 1 –

  Gevi buys MV Agusta for € 1 Proton turns the page and sells its shares in MV Agusta (Agusta, Cagiva and Husqvarna). For 1 symbolic euro, the Italian…

• Business – New Harley-Davidson: a maxi-trail, a Streetfighter and small displacement motorcycles! – Used HARLEY-DAVIDSON

  New Harley-Davidson: a maxi-trail, a Streetfighter and small-displacement motorcycles ! Revolution on the other side of the Atlantic: Harley-Davidson…

• Business – A small Harley-Davidson made in China with Qianjiang – Used HARLEY-DAVIDSON

  A small Harley-Davidson made in China with Qianjiang Harley-Davidson is teaming up with the Chinese manufacturer Qianjiang (Geely group) to launch an…

• Business – Interview Xavier Crepet: Harley-Davidson wants to conquer the world – Used HARLEY-DAVIDSON

  Interview Xavier Crepet: Harley-Davidson wants to conquer the world Objectives of the new 2018 Softail range, analysis of the Street 750’s early career,…