MV Agusta Motor SpA: capital increase and entry of new partner KTM AG announced
The new Board of Directors includes two members of KTM management
Announced by MV Agusta Motor SpA a capital increase deriving from its shareholders and from KTM AG, for a total of 30 million euros, prior to the extraordinary meeting called on Tuesday 15 November. The entry of the new partner KTM AG is confirmed.
The news
The meeting approved the entry of the new member KTM AG, Company PIERER Mobility AG, with a share equal to 25,1% of the share capital.
On the occasion Timur Sardarov, CEO of MV Agusta Motor SpA reported: “I am really happy with this agreement, and very pleased to welcome KTM AG, market leader in Europe, to which we are linked by a common vision of excellence to MV Agusta. Together we will further develop our core business and the production of high-end performance motorcycles. I am sure that the agreement will strengthen our brand in a particularly complex and challenging market phase".
In the same context the new board of directors which comprises two members of KTM management, as reported.
Image: MV Agusta
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