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Ducati shareholders approve merger plan

Performance Motorcycles S.p.A. to absorb Italian OEM

By Motorcycle.Com Staff, Oct. 23, 2008
Ducati Motor Holding S.p.A. shareholders have approved of a plan to merge with majority owner Performance Motorcycles S.p.A. The plan was approved in a shareholders meeting on Oct. 20 in Milan, Italy.

Performance Motorcycles is an investment group formed of three of Ducatiís main shareholders, Investindustrial, BS Investimenti and Hospitals of Ontario Pension Plan. The group made its initial offer to absorb Ducati in May when it held a 29.9% share of the Italian OEM. In June, Performance held an 84.7% share and on Aug. 22, Performance reached a share capital equal to about 92.75% of Ducati.

Performance will purchase the remaining shares at a price to be determined by CONSOB, the regulating body that oversees Italyís stock exchanges. Ducati Motor Holding is listed on the Borsa Italiana stock exchange where it closed on Oct. 23 at 1.661 Euros.

Ducati will be delisted from Borsa Italiana stock exchange once the merger is complete.

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