Is Mercedes About to Buy One of the World's Coolest SuperBike Companies?
Mercedes-Benz could be on the short list of possible companies to save MV Agusta.
One of the world’s premier manufacturers of exotic performance motorcycles, MV Agusta, has filed for “concordato in continuità,” which is an insolvency proceeding under Italian law for the restructuring of debt so that a company can continue operating. In other words, it’s like Chapter 11 in the U.S. MV Agusta reportedly owes 40-million euros ($44.8 million) to suppliers and banks, despite seeing a 30-percent sales growth last year. As a result of the filing, the company’s creditors have 90 days to accept the proposal.
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Currently, Mercedes-AMG owns a 25-percent stake in MV Agusta and it’s a possibility that the German automaker will increase its stake. Reports out of Italy say that the automaker and MV Agusta have been negotiating terms that would result in Mercedes-AMG having a majority share. The problem is, current president and 75-percent owner, Giovanni Castiglioni, is reluctant to give up control over the company.
Instead, Castiglioni might turn towards investors with private-equity firm Investindustrial being a potential partner. Investindustrial is the former owner of Ducati and is familiar with owning an Italian motorcycle manufacturer.
[Source: Motorcycle.com]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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