Photo: Florin Tibu
New rumors surfaced in the Italian media regarding the commercial relationship between German car manufacturer AMG Mercedes, a part of the automotive giant Daimler, on the one hand, and the Italian high-tier motorcycle maker MV Agusta, on the other.
The rumors see AMG thinking seriously about acquiring more shares from MV Agusta. Even more, some financial newspapers say that the two companies have already been in heated talks about the subject, and a possible outcome may be expected as early as next week.
We remind you that at the end of 2014 - beginning of 2015, Daimler bought a 25% minority stake in the Varese brand. In mid-January 2015, Daimler CEO Dieter Zetsche dismissed any rumors about a potential takeover. At NAIAS 2015, Zetsche said, “We have no intention to take over MV Agusta, not to start building motorcycles. When it comes to building bikes, MV Agusta is so much better than us,” but it looks like some of the circumstances have changed since then.
With the recapitalization made with Daimler’s money, MV Agusta fared quite well in 2015, releasing even more models, and enjoying a solid growth of over 30%, with the sales in some countries reaching record increases of up to 140 per cent, as it was the case in the UK. But ll Sole says that the figures are one thing, whereas the reality shows a much different picture.
Il Sole mentions a €15 million ($16.4 mil) loan MV Agusta took from Banca Popolare di Milano, and which becomes due in its entirety as soon as AMG, directly or indirectly, owns less than 20% of MV Agusta. If an agreement is not reached and AMG threatens to sell their stock, the house of Schiranna may be in even more trouble.
Will MV Agusta become the second Italian motorcycle manufacturer owned by a German automotive group after Ducati was bought by Audi? Possibly, check back and we’ll let you know. By the way, the header photo comes from this EICMA set.
We remind you that at the end of 2014 - beginning of 2015, Daimler bought a 25% minority stake in the Varese brand. In mid-January 2015, Daimler CEO Dieter Zetsche dismissed any rumors about a potential takeover. At NAIAS 2015, Zetsche said, “We have no intention to take over MV Agusta, not to start building motorcycles. When it comes to building bikes, MV Agusta is so much better than us,” but it looks like some of the circumstances have changed since then.
With the recapitalization made with Daimler’s money, MV Agusta fared quite well in 2015, releasing even more models, and enjoying a solid growth of over 30%, with the sales in some countries reaching record increases of up to 140 per cent, as it was the case in the UK. But ll Sole says that the figures are one thing, whereas the reality shows a much different picture.
The Italian press reports about MV Agusta’s €40 million unpaid debt
The newspaper we mentioned reports that, apparently, MV Agusta is in a bit of trouble, with around €40 million ($43.6 mil) owed to suppliers and banks. Presumably, the Castiglioni family would prefer to reach a settlement with the banks, quite the opposite of what Daimler/AMG has in mind.Il Sole mentions a €15 million ($16.4 mil) loan MV Agusta took from Banca Popolare di Milano, and which becomes due in its entirety as soon as AMG, directly or indirectly, owns less than 20% of MV Agusta. If an agreement is not reached and AMG threatens to sell their stock, the house of Schiranna may be in even more trouble.
Will MV Agusta become the second Italian motorcycle manufacturer owned by a German automotive group after Ducati was bought by Audi? Possibly, check back and we’ll let you know. By the way, the header photo comes from this EICMA set.
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