News 7 Aug 2010

General: Castiglionis repurchase MV Agusta from Harley

Iconic Italian brand MV Agusta has been purchased from Harley-Davidson by the Castiglioni brothers.

Iconic Italian brand MV Agusta has been purchased from Harley-Davidson by the Castiglioni brothers.

Claudio and Giovanni Castiglioni, through their family holding company, have repurchased 100 percent of the shares of MV Agusta Motor S.p.A. from Harley-Davidson, which owns historic brands MV Agusta and Cagiva.

Harley-Davidson announced in October 2009 its intention to sell MV Agusta to concentrate on its core business and brand.

In connection with the repurchase transaction Lazard and Co. have acted as the financial advisor along with counsel Alessandro Varrenti (CBA) and Giuseppe Galeano, whom provided legal and tax assistance in conjunction with family counsellors Giuseppe Carteni (Leadlaw), Andrea Lanata and Sergio Caramella.

Along with Giovanni Castiglioni, the company will be headed by Mr. Massimo Bordi, a well known Italian manager. A 62-year-old engineer, Bordi took Ducati to success during the years when that company was owned by the Castiglionis and continued to manage it successfully under the ownership of Texas Pacific Group.

Since 2003 Massimo Bordi has been the CEO of Same Deutz Fahr, contributing largely to the success of the company.

“MV Agusta has full capacity to once again become a major player in the high luxury brand motor bikes, this brand is one of the most recognized worldwide,” Bordi said. “We will implement a number of reorganisation and managerial actions in the near future.

“Both the current and new models under development have a very strong character, great innovative features and a very unique design, I have no doubts about their future success.”

Claudio Castiglioni, the historic intimate soul of MV Agusta will continue as chairman, and will concentrate on the development of the new products.

“MV Agusta is the crown jewel of Italian motorcycles, I am thrilled to have completed this transaction,” Claudio Castiglioni commented. “I have already won once together with Massimo Bordi, we made the most beautiful bikes in the world and we will continue with this tradition.”

In Australia, there is no current MV Agusta or Cagiva distributor after the Paul Feeney Group revealed last month that it would cease the importing of the brands.