Giovanni Castiglioni will continue to control MV Agusta through a holding company partly owned by ComSar Invest. ComSar Invest is wholly owned by Black Ocean Group, which is controlled by Timur Sardarov. Sardarov is described in the following press release as a “Russian Dynasty Key Player in the production of oil and gas in East Europe.”
Here is a press release from MV Agusta describing its recapitalization:
Varese, July 24th 2017 – MV Agusta Holding consolidates its equity investment through ComSar Invest; an investment fund part of Black Ocean Group, owned by Timur Sardarov, a Russian dynasty key player in the production of oil and gas in East Europe.
Along with the transaction, MV Agusta Holding announces the purchase of the 25% shares held by Mercedes AMG in the historic Italian motorcycle manufacturer MV Agusta Motor S.p.A.. The closing of the deal, whose financial terms are not disclosed, is set simultaneously to the capital increase of MV Agusta Holding in MV Agusta Motor S.p.A. expected at homologation of the company restructuring plan, which has been approved by the quorum of the creditors.
The new shareholding structure of MV Agusta Holding, which will control 100% of MV Agusta Motor S.p.A., will see ComSar Invest as a strong minority shareholder and GC Holding, the investment company of Giovanni Castiglioni, owning the controlling stake.
The finalization of the transaction adds another important element to MV Agusta deep turnaround plan started in 2016, based on the repositioning of the MV Agusta as a prime producer of super premium motorcycles, that brought the company back to positive Ebitda.
Giovanni Castiglioni, President of MV Agusta, commented: “The transaction with ComSar Invest in our holding company through a capital increase and the acquisition of the shares previously held by Mercedes AMG in MV Agusta Motor S.p.A., represents an important milestone for our plan which has as a main objective the reinforcement of MV Agusta core business: the production of high-performance, high end motorcycles. In the last 12 months the implemented measures, has brought MV Agusta back in positive cash flow generation, allowing to complete the restructuring plan and to consistently support product development and consolidation of our key markets.”
Timur Sardarov, controlling shareholder of ComSar Invest: “MV Agusta is for us the most iconic brand in the industry; a company that in the last 5 years has invested heavily in new product development creating a extensive, enviable range of motorcycles which results today is a unique asset for a successful future. Our presence in the capital, with a clear long-term vision, as well as in the key management of the company, has the objective, through our core competences and skills to support and strengthen MV Agusta in the coming years consolidating its position of super premium motorcycle producer. We will focus our funding to reinforce MV Agusta sales network and service and our knowledge in the technology fields, web and marketing to reach and enhance new markets, strengthen our digital and social presence enlarging MV Agusta’s consumer base.”
Nyet.
Great. What the world needs. More corrupt Russian money sloshing through the financial system. For shame, MV Agusta.
what as opposed to corrupt corporate American petro dollars
Will Trump start bad-mouthing Harley now to appease his boss?
It will be a short term investment. Today, (here) the UK joined France and parts of Germany in announcing that all petrol (and diesel) powered vehicles will be banned by 2040.
This means that within 20 years new motorbikes as we know them will cease to exist. It may seem like a long way off but to put the time frame into perspective, Yamaha’s R1 is 20 years old.
There will therefore, only ever be two new MV-Agusta iterations, then its over.
This world more and more resembles that of Atlas Shrugged, each new day is like turning a new page in that novel.
I’ve been saying this since I discovered that book 20 years ago. SIGH.
Luckily the world does not revolve around the U.K., France and parts of Germany.
This is how politicians who hate motorcycles get rid of them in the name of some other cause (ozone layer) politically when all other attempts on their part fail. They do it for the good of all peoples they dominate.
Here is to another 20 years of riding enjoyment on my VFR! I’ll be (82) dead by the time this gets around to happening. Suckers!!!!!
Seriously, this is a political “pledge”. It may happen. It may happen a lot further down the road, too.
I’m with you paul I will be 90 in 23 years and with luck I wont be around to see it.
So fill the tank with premium and lets blast off toward 2040
You say this as if you are delighted with the decision. Well, I hope you are forced to ride those “whirring” electric bikes.
Just this week was an attendee in a meeting for the development of industry training for E.V., Hybrid & Hydrogen cell vehicles for not just technicians but all areas of associated & still to emerge industry, just whom it will effect etc. From this expect no further major development in ICE until the last hurrah models, resources will be consumed in development or purchasing there of for EV & its mates, interest times will soon be upon the transport world.
Take the blinders off people
Quick…somebody call John Wick. we have a Russian issue.
How in the heck does Castiglioni keep control of that company? He’s got more lives than Eric Buell
Soon Moose and Squirrel will be chased by Boris on an MV.
Do they have any valid parts suppliers left…. Just say “No”
Jared Kushner gets the first motorcycle produced under the new ownership 🙂
Why’s that? I think Jared’s more of a Vespa guy. Please remind me who paid Bill $500k to deliver a speech in exchange for 20% of America’s uranium supply.
Hmmm, I didn’t know Bill owned 20% of America’s uranium supply?!
Bill’s wife Hillary made that deal when she was Secretary of State. Funny how the only media source who made that public is Fox News.
No wonder they call it Faux News. If it was real it would be reported everywhere.
That was sarcasm….
Link to a credible source or it didn’t happen
Snopes. Its Breitbart news, i.e. fake news.
Back to the bike. I want a 1950s example, and know I will never even see one up close. Settle happily for Yamaha and be able to ride regularly.
“…
Whether the donations played any role in the approval of the uranium deal is unknown. But the episode underscores the special ethical challenges presented by the Clinton Foundation, headed by a former president who relied heavily on foreign cash to accumulate $250 million in assets even as his wife helped steer American foreign policy as secretary of state, presiding over decisions with the potential to benefit the foundation’s donors.
…
When the Uranium One deal was approved, the geopolitical backdrop was far different from today’s. The Obama administration was seeking to “reset” strained relations with Russia. The deal was strategically important to Mr. Putin, who shortly after the Americans gave their blessing sat down for a staged interview with Rosatom’s chief executive, Sergei Kiriyenko. “Few could have imagined in the past that we would own 20 percent of U.S. reserves,” Mr. Kiriyenko told Mr. Putin.
”
NY times article
https://www.nytimes.com/2015/04/24/us/cash-flowed-to-clinton-foundation-as-russians-pressed-for-control-of-uranium-company.html?module=ArrowsNav&contentCollection=U.S.&action=keypress®ion=FixedLeft&pgtype=article
I also agree with other comments, that moving this manufacture and others to electrical future is likely to be one of the goals for the investment
MV Agusta’s directors are going to learn really quickly the meaning and spirit of the Irish adage: “He who pays the piper calls the tune.” I think there’ll be a dramatic shift in the tone and scope of MV Agusta’s lineup within a year or so.
re: “I think there’ll be a dramatic shift in the tone and scope of MV Agusta’s lineup within a year or so.”
MV now ride YOU…!!! (Georgian accent)
Russians are going to get a bad taste in their mouth, just like HD did. Italians like to burn through money like it grows on trees.
You mean like “MV Ural” is the new reality? Picture that blend in a bike…
I first saw that as “MV Urinal.” Sums it up pretty well
Dramatic shift? Hopefully to a more rationalized product line and more dealer points.
re: “Castiglioni will continue to control MV Agusta through a holding company partly owned by ComSar Invest. ComSar Invest is wholly owned by Black Ocean Group, which is controlled by Timur Sardarov.”
observe how the “nested” ownership structure here is like one big MATROYSHKA doll…
you ain’t tracing nothing to nobody.
Same in the U.S. Do you know who owns which brands?
http://sploid.gizmodo.com/fascinating-graphic-shows-who-owns-all-the-major-brands-1599537576
Bikes you can’t buy, parts you can’t get and questionable distribution. Always a receipe for success. I wish our Russian comrades good luck.
Well, if they are serious, the first thing to do would be to award dealerships so there are more than, what, 20 in the States? Oh that’s right, they currently have 33 in the States. Still need more if they want to go much of anywhere. Sheesh, 33 dealers, that’s not even 1 per State.
Does this mean we will we see the F4 engine in a Ural side hack?
Yes it does. With lower compression of course and tuned for torque. We can only hope they spiff of the looks of those side hacks.
Nyet. ‘Finicky Italian engines that can’t be fixed in the middle of nowhere with a multi-tool are not hack-friendly. Now a ’30’s boxer engine in a Brutale…..
For those of us who own an MV this is welcome news.
BOTH of you? 🙂
lol, yeah it’s lonely at the top. 🙂
Yeah and the other one agrees
This is a nice way to launder all that cash they steal from Russia.
Not enough to have the American Laundromat through Trump, filtering dirty money through motorcycle factories, who knows where this will go.
Dang those Russians. You would think it would be enough to run our election. Now they want to run MV, too.
MV Agusta, owned by the Russian mafiya.
I mean, come on, what could go wrong?
Obviously they’re colluding in hopes of influencing the Italian election. myah hah hah
Want to end up with a small fortune? Start with a large one, and then acquire and run MV Agusta.
Funny. You could have made many of these same comments about Ducati thirty years ago, when it was on the ropes. I owned a Pantah 600 back then and there were few dealers and parts were tough to find. Let’s hope this partnership breathes new life into MV.
nye pucho nye para (Russian for good luck)
“Timur Sardarov, controlling shareholder of ComSar Invest: “MV Agusta is for us the blah blah blah… money laundering”
HAHAHAHAHAHAHA! Seriously I LOL’d. Comment of the day award.
MV makes some jaw droppingly gorgeous bikes for sure. I definitely wish them well, but MV and Ducati have a tough road ahead of them now that all the Japanese OEMs and BMW are into the race-replica, super-premium sportbike thing too.
turismo veloce bellisimo !
2 Dealers in my City have returned their MV A Dealer Licences due to very low sales since they took them on about 6 months ago via the ‘get out low sales ‘ clause.
Disagree totally. The non-Italian manufacturers seem not to have a clue how to create a well-designed package like a Panigale or an MV F3. I, for one, can’t stand the looks of most of the superbike competitors.
Those darned Russians seem to be into everything.
Except oil and natural gas, LOL!