Claudio Castiglioni buys MV Agusta

[MikeG]

Claudio Castiglioni has bought MV Agusta back from Harley just two years after The Motor Company purchased the exotic sportsbike brand. The move may seem odd, but remember that, thanks to Harley, MV is now free of debt and has millions of dollars in new manufacturing equipment as well as an all-new midsize model ready to go in the form of the MV Agusta F3. Official word below and more analysis on the way.

Update: MV's official statement added.


HARLEY-DAVIDSON FINALIZES SALE OF MV AGUSTA

MILWAUKEE, Aug. 6, 2010 -- Harley-Davidson, Inc. (NYSE: HOG) has concluded the sale of its subsidiary, MV Agusta, to Claudio Castiglioni and his wholly owned holding company, MV Agusta Motor Holding, S.r.l., effective today.
Castiglioni is the former owner of the Italian motorcycle maker and has served as MV Agusta's chairman since 2008, when Harley-Davidson acquired the company.

In October 2009, Harley-Davidson announced its intention to sell MV Agusta as part of a new corporate strategy to focus resources on the Harley-Davidson brand. Since then, Harley-Davidson has held discussions with various potential MV Agusta buyers.

"MV Agusta is a proud brand and we wish Mr. Castiglioni and the company's employees well," said Harley-Davidson President and Chief Executive Officer Keith Wandell. "Our decision to divest MV Agusta reflects our strategy to focus our efforts and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to long-term growth."

MV AGUSTA IS ITALIAN AGAIN

Varese, August 6th 2010 - 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 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. Massimo Bordi commented that "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. Upon signing the agreement with Harley-Davidson, Claudio Castiglioni stated "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".



http://hellforleathermagazine.com/2010/08/claudio-castiglioni-buy-mv-agu.html


206269

[imitrelos]

ο μέγιστος claudio επέστρεψε.........:D

άντε τώρα που τα άμερικανάκια φτιάξαν το εργοστάσιο τούς φάγαμε

κάμποσα λεφτά .......ας πιάσει πάλι δουλειά το CRC :D

http://www.google.gr/imgres?imgurl=http://www.bestmotorcyclepictures.com/wp-content/uploads/2009/07/2009-cagiva-mito-sp525.jpg&imgrefurl=http://www.bestmotorcyclepictures.com/page/123/&h=850&w=1280&sz=144&tbnid=3nagvVzFUApzBM:&tbnh=100&tbnw=150&prev=/images%3Fq%3Dcagiva%2Bmito%2B2009&hl=el&usg=__9CV_S_2tT40oteGAaBsa93aXd_U=&sa=X&ei=-OJhTPWbCqidOKWI6f8J&ved=0CB0Q9QEwAg

[MikeG]

Claudio Castiglioni (right) and his brother Giovanni are back in charge of MV Agusta.

"MV Agusta is the crown jewel of Italian motorcycles, I am thrilled to have completed this transaction." No wonder Claudio Castiglioni is thrilled. Two years after selling MV Agusta to Harley-Davidson for 70 million euros, they pay him 20 million euros to take it back. Castiglioni immediately promises new models and a bright future for the iconic brands, but MV Agusta's Castiglioni years suggests we should expect more cunning business deals than actual motorcycle manufacturing.

1991: Cagiva (Castiglioni's family business and owners of the Cagiva, Ducati, Husqvarna and Moto Morini brands) bought MV Agusta - at this point just a brand and a few historical bikes.

1995: After selling Ducati (and Moto Morini) to Texas Pacific Group, Castiglioni re-invested the money in ressurrecting the MV Agusta brand. During this period the company was restructured and changed name from Cagiva to MV Agusta.

1997: F4 750, Castiglioni's first MV Agusta, debuts at Eicma.

2001: MV Agusta is drowning in debts. Castiglioni reportedly tries to sell a 20% share to Piaggio, but no deal is done.

2002: Unable to pay its debts, MV Agusta is put under temporary receivership.

2004: MV Agusta is saved from bankruptcy. "Proton [..] have believed in the value and potentials of our brands, and with [them] we will construct a leading force to be reckoned with on an international level", said Castiglioni in the press release announcing that the state owned Malaysian car maker was buying a 57,7% share in MV Agusta for 70 million euros. Castiglioni kept a 37,25% share, Massimo Tamburini 2% and Electrolux, former owners of then Swedish brand Husqvarna, 3%.
Being the majority share holder, Proton also took over MV Agusta's massive debts of 107 million euros. It's unclear (the whole Proton shenanigans are clouded in Malaysian politics) how much they invested in MV Agusta during their ownership, but it's safe to say they took a huge loss on their Italian adventure.

2006: A new leadership takes over Proton and promptly decides to cut their losses and sell their share in MV Agusta to an Italian investment group called Gevi Spa (acting as a front for Castiglioni) for one euro.

2007: MV Agusta sells Husqvarna to BMW for an undisclosed fee, believed to be around 90 million euros. Gevi Spa isn't mentioned in the deal, with BMW apparantly buying the company from Castiglioni owned MV Agusta Spa. "This transaction has been carried out in order to expand MV Agusta and Cagiva presence in the international markets having more financial resources for new models development," Castiglioni explained in the press release.

2008: Harley-Davidson buys MV Agusta (including Cagiva) for 70 million euros. 45 million goes to cover debt. Castiglioni also secured a contingent payment in 2016 "if certain financial targets are met."

2010: Harley-Davidson pays Castiglioni 20 million euros to take MV Agusta and Cagiva back. Harley-Davidson writes off $162.7 million in losses.

What next: Castiglioni has brought in his old friend Massimo Bordi from the Ducati 916-era to run MV Agusta, hoping to recreate the glory days: "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".

That's 15 years, countless millions of dollars, amazingly few motorcycles and a handful of creative business deals ago, but best of luck anyway.



http://hellforleathermagazine.com/2010/08/mv-agusta-the-castiglioni-year.html#more

[imitrelos]

και ο bordi πίσω .........

http://allaboutbikes.com/everyday/news/2773-massimo-bordi-joins-mv-agusta

castiglioni-bordi-tamburini :smokin: :sun:

για ακρίβεια ο castiglioni πήρε 102 εκ $ ; όταν τήν έδωσε .....και

πήρε άλλα 20 εκ για να τήν πάρει πίσω .......respect :smokin: