- March 18, 2024
Already owning 25.1% of MV Agusta Motor S.p.A., KTM AG has now exercised an option to acquire enough additional shares to take majority control (50.1%) of MV.
Here is the press release issued by the parent company PIERER Mobility AG:
- Call option to acquire majority stake in MV Agusta Motor S.p.A. to 50.1% exercised prematurely
- KTM is taking over industrial leadership
- Site expansion and capacity increase planned in Varese
Call option to acquire majority stake in MV Agusta Motor S.p.A. to 50.1% exercised prematurely
In November 2022, KTM AG, a subsidiary of PIERER Mobility AG, acquired 25.1% of MV Agusta Motor S.p.A., based in Varese (Italy), as part of a capital increase. As part of this cooperation, KTM AG took over the supply chain and purchasing of MV Agusta in October 2023. In addition, MV Agusta’s product range is also distributed in part via PIERER Mobility’s global sales network. The call option granted to KTM AG on the basis of the annual financial statements as of December 31, 2025 to acquire a majority stake in MV Agusta Motor S.p.A.will now be exercised prematurely. The purchase price for the remaining 25% of the shares was calculated in accordance with the previously agreed valuation method (EBITDA multiple). This means that KTM AG will take over the majority and also the industrial management of MV Agusta Motor S.p.A. In the medium term, an annual production volume of more than 10,000 MV Agusta premium motorcycles is planned at the site in Varese.
New CEO position filled by Hubert Trunkenpolz
With the early takeover of the majority and as a commitment to the location and responsibility for the employees, Hubert Trunkenpolz, member of the executive board of PIERER Mobility AG, is taking over the role of CEO and Chairman of the board of directors from Timur Sardarov, who will continue to be available to the company as Vice-Chairman, brand ambassador and consultant.
You can skip to the end and leave a response. Pinging is currently not allowed.
