MV AGUSTA MOTOR S.p.A. AND KTM AG COMPLETE AN IMPORTANT RECAPITALISATION FOR SUSTAINED GROWTH
Varese, November 16, 2022 – MV Agusta Motor S.p.A. announced a capital increase of 30 M € (about $31 million USD) on the part of the company’s shareholders and KTM AG, ahead of the extraordinary shareholders’ meeting that took place yesterday, November 15th, 2022. During the meeting, the new shareholder, KTM AG, a company of PIERER Mobility AG, who now holds a 25.1% stake in the company’s equity, was officially introduced. MV Agusta’s new board of directors now also includes two members of KTM’s senior management team.
Timur Sardarov, CEO of MV Agusta Motor S.p.A. stated: “I am excited about this important agreement, and delighted to welcome KTM AG, Europe’s leading powered two-wheeler manufacturer, into the MV Agusta family. Driven by our shared vision of excellence, the principal goals of our alliance will be the consolidation of our core business and the production of high-performance motorcycles in the premium segment. I am confident that the agreement will strengthen our brand in a complex and challenging marketplace”.