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 Husqvarna) for a capital increase of 70 million euros. At the same time, Ducati and Aprilia have started exclusive discussions.

Placed under judicial supervision since November 2002, the Italian group MV Agusta (Cagiva, Husqvarna) has just reached an agreement with the Malaysian car manufacturer Proton (which also owns the British brand Lotus).

Via a capital increase of 70 million euros, Proton would take by the end of the year a "share of control"in the capital of Italian in order to"develop the presence and increase the value of the Cagiva, Husqvarna and MV Agusta brands on international markets through the multiple industrial and commercial synergies that the two groups share".

The agreement, already mentioned last year (read), was approved by the board of directors of Proton on May 25, 2004 and must still be endorsed by the creditors of MV Agusta.

Founded in 1907 by Count Giovanni Agusta, pioneer of the Italian aeronautical industry who died in 1927, MV Agusta produced his first motorcycle in 1945 under the leadership of Giovanni’s widow, Guiseppina, and their son Domenico. The "98", powered by a 98cc 2-stroke engine developed before the war, has two speeds. First available in "touring" and "economy" version, the 98 then offers a "sport" version equipped with a telescopic fork, a frame shortened by 5 cm and a much more powerful engine which almost displays. .. 5 horses !

Faced with multiple difficulties from the 70s and the death of Domenico, the MV Agusta brand was bought in 1992 by the Italian entrepreneur Claudio Castiglioni, boss of Cagiva (CAstiglioni GIovanni VArese) who had already bought the Swedish Husqvarna in 1986.

With the arrival of the Malaysian "tiger", it is therefore today a new page that opens for the Italian group, which sold 14,000 motorcycles last year and is targeting 28,000 units this year, ie a turnover of 160 million euros. Wish it was favorable to him !

It should also be noted that following the offers from Piaggio and Ducati concerning the takeover of the Aprilia group (read and), it is Ducati (purchased in 1985 by the same Castiglioni and sold in 1996 to the Texas Pacific Group!) Which seems today ” hui the most advanced. The two groups have indeed started "exclusive discussions"during which any negotiation between Aprilia and another potential buyer is excluded. Ducati, which initially wanted to acquire only Moto Guzzi, is now extending its offer to the entire Aprilia group with the aim of"create an Italian two-wheeler hub".

Eric MICHEL

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