Harley-Davidson finalizes sale of MV Agusta to Claudio Castiglioni

It was in the air for sometime that Harley Davidson would be selling MV Augusta back to Claudio Castiglioni, just two years after the same Castiglioni sold the company to HD, and today the deal was finalized and the iconic motorcycle marque has now returned to Italian hands.
During the Harley–Davidson ownership, MV Agusta repaid its debts ($70 million) and received new equipment and the company released three new models, the 2010 Brutale 990R, the Brutale 1090RR, the F4, and were working on the new mid-size three cylinder F3 prototype.

Terms of the sale were not released but the ownership change is effective immediately.
MV Agusta and Harley Davidson press releases after the jump.
MV Agusta Press Release: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”.
Harley Davidson Press Release:Harley–Davidson, Inc.
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.
”