With the new investor, the premium bike brand is now more confident on its product development in the coming years
The exotic Italian superbike brand MV Agusta has found a new investor in the form of ComSar Invest. This has eventually resulted in the holding company take over 100 percent shares of the MV Agusta.
MV Agusta Holding has bought 25 percent shares that were earlier with Mercedes-AMG. The renowned German auto manufacturer had invested in MV three years back in the year 2014.
This new shareholding structure of the MV Agusta Holding will take control of 100 percent of MV Agusta Motor S.P.A and will witness ComSar Invest as a strong minority shareholder. On the other hand, GC Holding, which is the investment company of Giovanni Castiglioni will own the controlling stake.
The closing of this deal is seen as an another important element of MV Agusta’s turnaround plan that was started last year. This was based on bringing back the company to its original position of ultra premium motorcycles that took the company back to positive EBITDA.
Commenting on this, Giovanni Castiglioni, President of MV Agusta has stated that the transaction of ComSar Invest in the company through a capital increase and acquiring of shares represent an important part of the plans that the brand has in mind for the future. The main objective of the MV Agusta plan is to reinforce the core MV Agusta business and to produce high performance, stunning looking machines. The top honcho further stated that all thanks to the measures decided by the company, MV Agusta is back into cash flow generation since last one year and it has helped the brand restructure itself and work more confidently on product development.
Adding to this, Timur Sardarov, who is the controlling shareholder of ComSar Invest has stated that MV Agusta is the most iconic brand in the industry and in the last five years, the company has invested heavily on its product development. He also said that with the company’s long term vision and core competences and skills, ComSar intends to further consolidate the position of MV Agusta as a premium motorcycle maker.