MV Agusta closes an important agreement with Black Ocean

MV Agusta – MV Agusta and Black Ocean have signed a new agreement for a capital increase of the Italian brand. The international investment company and MV AGUSTA, majority shareholder of MV Agusta Motor SpA, signed binding agreements for a capital increase on November 17th.

The recapitalization, together with the company's restructuring plan, aims to consolidate the leadership of the MV AGUSTA brand in the production of high-end motorcycles. The closing of the transaction is expected to coincide with the final approval of the restructuring plan.

Who is Black Ocean?

Black Ocean, part of the international holding company Ocean Group, is an investment group founded by entrepreneurs Oliver Ripley and Timur Sardarov, and has offices in New York, London and Luxembourg. The company has invested in and built a diverse group of companies spanning technology investments, private aviation, real estate and agriculture. Oliver Ripley, CEO of Black Ocean, commented on the agreement: “We are very pleased to be joining such an iconic Italian company and are excited by the possibility of working with an industry-leading brand."

MV Agusta, Giovanni Castiglioni: “Black Ocean will consolidate our position as an industry leader"

Giovanni Castiglioni, CEO of MV AGUSTA, said instead: “I am very happy to have reached this agreement with Black Ocean. Beyond strengthening our capital, which is important for the future growth of MV AGUSTA, I firmly believe that Sardarov, Ripley and their team will be able to contribute their entrepreneurial and managerial skills in consolidating MV AGUSTA as a key player in the super premium two-wheeler market. "

The details of the agreement have not yet been disclosed by the parties. Good news for MV Agusta after last week the Varese Prosecutor's Office, with the support of the Financial Police, opened an investigation into alleged irregularities regarding the payment of employee contributions. Read our article on the matter here.