KTM puts RM141.7 million into MV Agusta motorcycles – paultan.org
After its acquisition of a stake in Italian motorcycle maker MV Agusta Motor, Austrian firm KTM has announced a capital increase of 30 million euro (RM141.7 million). KTM, a division of Pierer Mobility and famed for its off-road and edgy performance road bikes, currently has a shareholding of 25.1% in MV Agusta.
The capital injection also includes seats on MV Agusta’s board of directors for two members of KTM’s senior management team. “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,” said Timur Sardarov, CEO of MV Agusta, in a press statement.
The Varese, Italy, motorcycle maker has had a troubled financial history, including involvement with Mercedes-AMG, Harley-Davidson and Russian investment group Black Ocean as well as being previously owned by Malaysian car maker Proton. For MV Agusta in Malaysia, the latest news is the brand is set to return under the aegis of AFY Mobility with motorcycles to be assembled locally in Shah Alam, Selangor.
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