11-07-2008, 11:20 PM
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#1 (permalink)
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V-Strom DL650 K4
Join Date: Jul 2007
Location: Seattle, WA
Posts: 1,604
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Harley-Davidson Acquires Both MV Agusta & Cagiva
Soup :: Harley-Davidson Acquires Both MV Agusta & Cagiva! :: 07-11-2008
This just in from Harley-Davidson:
HARLEY-DAVIDSON TO ACQUIRE MV AGUSTA GROUP
EXPANDING PRESENCE IN EUROPE
Italian Company Known for Premium, High-Performance Motorcycles
Milwaukee, Wis., July 11, 2008 -- Harley-Davidson, Inc. (NYSE: HOG) today announced the signing of a definitive agreement to purchase the Italian motorcycle maker MV Agusta Group (MVAG). Under the agreement, Harley-Davidson will acquire 100 percent of MV Agusta Group shares for total consideration of approximately 70 million euros ($109 million), which includes the satisfaction of existing bank debt for approximately 45 million euros ($70 million). In addition, the agreement provides for a contingent payment to Claudio Castiglioni in 2016, if certain financial targets are met. MV Agusta Group is privately held, with the Castiglioni family owning 95 percent of MVAG shares.
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