MV Agusta Holding has completed the deal that sees ComSar Invest inject new money into the company.
ComSar is an investment fund owned by Black Ocean Group. MV has been working on the deal since last year. The new investment means MV Agusta Holding has been able to buy back the 25% stake in MV Agusta S.p.A previously owned by Mercedes AMG. MV is not releasing exact financial details of the recapitalisation.
ComSar will be a ‘strong minority shareholder’ in MV Agusta Holding. GC Holding, owned by Giovanni Castiglioni, will have the controlling stake.
What the bosses say:
Giovanni Castiglioni, President of MV Agusta, said: “The transaction with ComSar Invest in our holding company through a capital increase and the acquisition of the shares previously held by Mercedes AMG in MV Agusta Motor S.p.A., represents an important milestone for our plan which has as a main objective the reinforcement of MV Agusta core business: the production of high-performance, high end motorcycles. In the last 12 months the implemented measures, has brought MV Agusta back in positive cash flow generation, allowing to complete the restructuring plan and to consistently support product development and consolidation of our key markets.”
Timur Sardarov, controlling shareholder of ComSar Invest, said: “MV Agusta is for us the most iconic brand in the industry; a company that in the last 5 years has invested heavily in new product development creating a extensive, enviable range of motorcycles which results today is a unique asset for a successful future. Our presence in the capital, with a clear long-term vision, as well as in the key management of the company, has the objective, through our core competences and skills to support and strengthen MV Agusta in the coming years consolidating its position of super premium motorcycle producer. We will focus our funding to reinforce MV Agusta sales network and service and our knowledge in the technology fields, web and marketing to reach and enhance new markets, strengthen our digital and social presence enlarging MV Agusta’s consumer base.”
