Mercedes-AMG offloads stake in motorcycle maker MV Agusta
After three years, Mercedes-AMG is letting MV Agusta ride off into the sunset with a new partner. Mercedes-Benz’s performance division has officially sold its stake in the Italian motorcycle company.
MV Agusta announced Mercedes-AMG’s 25 percent stake in the company has been bought by ComSar Invest, which is owned by Russian oil and gas magnate Timur Sardarov. Sardarov believes the purchase lays the foundation for a prosperous future and promised continued investment into the MV Agusta sales and service network, technology fields, and marketing presence to expand the Italian marque’s presence.
Mercedes-AMG purchased the 25 percent stake in MV Agusta in 2014 after the brand’s flirtation with Ducati was spoiled by Audi’s 2012 purchase of that motorcycle brand. Fast forward to 2017 and Audi’s parent automaker, Volkswagen Group, is preparing to sell off Ducati after it had to dish out billions of dollars following its diesel scandal. The most recent report pegs Harley-Davidson as the top contender to purchase Ducati.
MV Agusta reports it returned to profitability in 2016.
The high-end motorcycle maker is confident in its new direction. The brand’s president, Giovanni Castiglioni, heralded the deal as a new chapter. “[Our main objective is the] reinforcement of MV Agusta core business: the production of high-performance, high-end motorcycles,” he said.
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