H-D to buy out MV Agusta
Italian manufacturer 200 million euros in debt
According to Italian newspaper Il Messaggero, The Motor Company would buy out MV Agusta’s debts, estimated at around 200 million euros.
MV Agusta reportedly owes 70 million euros to suppliers and 130 million euros to banks, including a 95 million euro debt to Italian banking group Intesa Sanpaolo.
The proposed deal would transfer 80-85% of MV Agusta’s capital to Harley-Davidson, leaving the Italian company’s president, Claudio Castiglioni, with the remaining 15-20%.
Castiglioni, who lends his initials to the MV Agusta F4CC, currently owns 29.6% of the company while the majority share belongs to finance company Gevi of Genoa, Italy.
Although Il Messaggero’s report does not cite any sources and indicates the deal is stil in progress, our moles tell us that it's already a done deal. Expect a formal announcement next week.
When the acquisition is completed, Harley-Davidson will add MV Agusta’s brand of exotic premium motorcycles to its family, which already includes Buell.