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Published: January 1st, 2010
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Garelli bid for Moto Morini rejected
Trade union rejects Berlusconi's offer
By Motorcycle.Com Staff, May. 19, 2010
Nuova Garellis bid to acquire Moto Morini has fallen through after trade union representatives turned down the offer.Paolo Berlusconi, brother of Italys prime minister and owner of Garelli, submitted a bid worth 2.9 million euro in April for the struggling Moto Morini. Berlusconis offer included a three-year plan with provisions for keeping 20 Moto Morini employees and severance pay for the other 37 workers. Berlusconis plan would have also moved production of a Garelli scooter to the Moto Morini factory.
Berlusconi is expected to submit a new offer in the next few weeks.
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