Harley furthers plan to divest MV Agusta
Harley-Davidson, Inc. (NYSE: HOG) has selected the investment banking firm, BNP Paribas in Milan, to assist Harley-Davidson in the sale of MV Agusta. Harley-Davidson is currently identifying potential buyers for the Italian-based motorcycle company.
"MV Agusta is a highly desirable company for the right buyer," said Harley-Davidson Senior Vice President and Chief Financial Officer John Olin. "MV Agusta has a proud heritage and strong brand, high-quality exciting and beautiful products, and passionate enthusiasm on the part of its customers, employees and dealers, and we are confident in our expectation that we will identify an appropriate buyer."
Harley-Davidson announced its plans to divest MV Agusta in October, as part of its go-forward business strategy to focus its effort and investment on leveraging the unique strengths of the Harley-Davidson brand to reach new customers, strengthen relationships with existing customers, and grow the Harley-Davidson brand worldwide.
While Harley-Davidson intends to sell MV Agusta, MV Agusta has continued to move forward on the road to revitalization. Under Harley-Davidson’s ownership, MV Agusta has restored production operations and continues to invest substantially in product development, as evidenced by the recent unveiling of the all new Brutale and F4 models, which generated a highly enthusiastic response among customers and key trade media at the Milan show. MV Agusta is also returning to a position of prominence in the premium performance sport motorcycle category.
Harley-Davidson, Inc. is the parent company for the group of companies doing business as Harley-Davidson Motor Company (HDMC), Harley-Davidson Financial Services (HDFS), Buell Motorcycle Company (Buell), and MV Agusta.