MV Agusta breaks shackles from Mercedes AMG
MV Holding to become the 100% owner of MV Agusta S.p.Aby Sagar, on
MV Agusta’s exotic Italian lineage has been through the history’s ups and downs. Doing so, the company switched hands four times in the past 12 years and has been once owned by Harley Davidson until in 2014 when Mercedes-AMG became a 25 percent stakeholder.
Now, that 25% shares have been bought back by MV Holding that effectively removes the German brand from the business operations of the motorcycle sector, MV Agusta S.p.A. With this seen through, MV is in a bid to get back its workforce to get back up and running to full production.
It all started when it was reported that MV Agusta allegedly paid its supplier bills through its employees’ INPS contributions, Italy’s national pension system. Considered to be a white collar crime, it was under investigation by the Guardia di Finanza (Italian white collar wing) for this act and was under scrutiny for a €6.8 million ($8 million) of social security contributions of the employees.
This made MV Agusta restructure its financial situation and was compelled to cut down its employees from 300 to just 190. Its R&D took a back seat and the only major new model launched in 2017 was the RVS#1.
According to the reports, MV Agusta Motor Holding will now own 100% of MV Agusta Motor S.p.A. that is the arm responsible for the production of dream machines on two wheels. GC Holding (the holding company owned by MV Agusta CEO Giovanni Castiglioni) will own a majority of the MV Agusta Motor Holding while ComStar will have a “strong minority” position in the brand – possibly up to as much as 49% of the company.
With this, things have started to ease off, and MV Agusta is now concentrating on working on new machines for 2018 including a new line of Brutales’. It will run on a 1200cc, four-cylinder engine similar in architecture to the 998cc on the mighty F4 superbike.
MV Holdings is a firm that is jointly owned by MV Agusta CEO, Giovanni Castiglioni, and the Russian Sardarov family ComStar of the Black Ocean group. Although no official statements regarding the question ’How much?’ has been made, it is said that it enough to lift the Italian brand much higher from the troubled waters.