Negotiations continue for the takeover of Aprilia

After the rejection of the Ducati offer by Aprilia, negotiations continue for the takeover of the Noale group. Piaggio seems more than ever in pole position, but Ducati persists and maintains its proposal…

While Ducati seemed the most advanced among the candidates for the takeover of Aprilia (read), the competition continues for the creation of an Italian two-wheeled giant.

Aprilia has in fact rejected Ducati’s offer and put an end to the process of exclusive negotiations (read), at the same time relaunching the candidacy of the Piaggio group (Piaggio, Vespa, Gilera and Derbi) which submitted a valid confidential takeover offer. until August 14.

Roberto Colaninno, president of Piaggio and boss of the investment company IMMSI which controls the group, has thus reaffirmed his will "to house all Italian two-wheeler manufacturers under one roof". His plan would be based in particular on the maintenance of Aprilia’s industrial activity, the preservation of factories and employees and the development of its commercial brands (Aprilia, Laverda and Moto Guzzi).

But Ducati does not admit defeat and maintains its offer which will not be changed. "We have complied, both in form and substance, with the procedures required by Aprilia’s advisers", estimates Federico Minoli, president of Ducati. The offer of Ducati was based on the continuation of the activities of Aprilia until the end of the period of judicial supervision envisaged this autumn, a capital increase"of at least 40 million euros", converting part of Aprilia’s debt into Ducati shares listed on the New York and Milan stock exchanges and maintaining an honorary role for the current shareholders of the group."We are firmly convinced that our proposal reflects the real value of the Aprilia Group and that it offers all the guarantees to the shareholders involved in the transaction. This is why we do not intend to modify our offer and we will leave to Aprilia advisers (Interbanca and Caretti, NDLR) the opportunity to examine it more carefully", continues Federico Minoli.

In addition to Piaggio, the Austrian BRP-Rotax, a subsidiary of the Canadian Bombardier, and the Taiwanese Kymco, which according to some rumors have formulated the highest offer, are still in competition for the takeover of Aprilia….

Eric MICHEL

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