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Polaris to Take Over MV Agusta?
If rumours are to be true, American company Polaris is considering buying revered Italian motorcycling marquee MV Agusta. Polaris Industries, primarily a manufacturer of ATVs, snowmobiles, and battery operated vehicles, also manufactures motorcycles under the Victory Motorcycles and Indian Motorcycles subsidiaries.
MV Agusta has not been in a good state for quite some time as far is financial matters are considered. In order to generate funds the company sold 25 per cent of its shares to AMG more than a year ago. However, that has not helped much to give the brand a stable base. Also, as per the agreement, if the participation of AMG should go below 20 per cent, MV Agusta would be entirely responsible for repaying the loan due to it.
AMG had also put forth an offer to completely buy the entire company but Giovanni Castiglioni, CEO of MV Agusta, did not want to part away from rights to the company. It was later learned that MV Agusta had filed for a continuity agreement to prevent bankruptcy.
The company has recognition and a far-flung global network that will further provide a good boost for the Italian brand to grow. MV Agusta had performed well in 2015, reporting up to 30 per cent increase in sales. However, over the period the debts have increased also, making it even more difficult for the brand.
Source: Polaris to Take Over MV Agusta? - ZigWheels
Polaris to Take Over MV Agusta?
If rumours are to be true, American company Polaris is considering buying revered Italian motorcycling marquee MV Agusta. Polaris Industries, primarily a manufacturer of ATVs, snowmobiles, and battery operated vehicles, also manufactures motorcycles under the Victory Motorcycles and Indian Motorcycles subsidiaries.
MV Agusta has not been in a good state for quite some time as far is financial matters are considered. In order to generate funds the company sold 25 per cent of its shares to AMG more than a year ago. However, that has not helped much to give the brand a stable base. Also, as per the agreement, if the participation of AMG should go below 20 per cent, MV Agusta would be entirely responsible for repaying the loan due to it.
AMG had also put forth an offer to completely buy the entire company but Giovanni Castiglioni, CEO of MV Agusta, did not want to part away from rights to the company. It was later learned that MV Agusta had filed for a continuity agreement to prevent bankruptcy.
The company has recognition and a far-flung global network that will further provide a good boost for the Italian brand to grow. MV Agusta had performed well in 2015, reporting up to 30 per cent increase in sales. However, over the period the debts have increased also, making it even more difficult for the brand.
Source: Polaris to Take Over MV Agusta? - ZigWheels
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