MV Agusta Returned to Rightful Owner
The biggest news in motorcycling this week was that Claudio and Giovanni Castiglioni, through their family holding company have repurchased from Harley-Davidson 100% of the shares of MV Agusta Motor S.p.A., which owned the historic motorcycle brands MV Agusta and Cagiva for the last few years.
Harley-Davidson announced in October 2009 its intention to sell MV Agusta to concentrate on its core cruiser and touring bike business and iconic American brand. This was announced in conjunction with the discontinuation of the Buell Motorcycles sportbike 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.
Massimo Bordi says: “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. We will implement a number of reorganization 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.
Claudio Castiglioni says: “MV Agusta is the crown jewel of Italian motorcycles, I am thrilled to have completed this transaction. 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”.
Apparently, MV and Cagiva have been returned to the rightful owner for less money than the original sale.