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|10-31-2014, 07:10 AM||#1|
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MercedesAMG takes 25 share in MV Agusta
Longrumoured deal confirmed
MERCEDES' AMG sub-brand has bought 25% of MV Agusta after months of rumours that just such a deal was on the cards.
No financial details have been announced, but having the might of Mercedes behind it should give MV Agusta a much firmer footing for the future, while allowing the German car firm to have a motorcycle arm to compete with Audi-owned Ducati and BMW’s motorcycle division.
Here is the full press release from MV and Mercedes-AMG:
Mercedes-AMG and MV Agusta announce cooperation
Cooperation agreement signed on long-• term partnership
• Mercedes-AMG to acquire 25% interest in MV Agusta
• Cooperation in area of marketing and sales
Affalterbach, Germany / Varese, Italy – The sports-car and performance brand Mercedes AMG of the Daimler AG and the motorcycle manufacturer MV Agusta have signed a cooperation agreement on a long-term partnership. Cooperation between the two high-end brands with long traditions and histories will include the area of marketing and sales. At the same time, Mercedes-AMG GmbH will acquire a 25% interest in MV Agusta Motor S.p.A. No details have been disclosed of the price to be paid for the stake in MV Agusta Motor. Mercedes-AMG will appoint one member of MV Agusta’s board of directors. The partnership is still subject to the approval of the relevant authorities, which is expected to be granted in late November.
Tobias Moers, Chief Executive of Mercedes-AMG GmbH: “In MV Agusta, we have found the perfect two-wheel partner for Mercedes-AMG. This manufacturer with a long tradition and Mercedes-AMG are connected not only by a long and successful racing history, but also by shared values and goals for the future – allowing the experience of utmost perfection, optimal performance and motorsport technology for the road. The cooperation with MV Agusta also underscores the importance of AMG as the sports-car and high-performance brand of Mercedes-Benz Cars. The partnership provides us with an entry into a world of additional high-performance enthusiasts.”
Giovanni Castiglioni, President and CEO of MV Agusta Motor S.p.A., commented: “MV Agusta and Mercedes-AMG are a perfect brand fit: Two complementary companies that stand for design, high performance and excellence. Mercedes-AMG will help MV Agusta to further expand globally and to accelerate our growth. The uniqueness of MV Agusta will further enhance Mercedes-AMG’s leadership in the high-performance segment.”
Wilko Stark, Vice President Daimler Strategy & Mercedes-Benz Cars Product Strategy and Planning: “The positioning of Mercedes-AMG as the performance brand in the Mercedes Benz product portfolio will be further strengthened through the strategic partnership with MV Agusta. The strategic cooperation with MV Agusta will allow us to address high-performance enthusiasts with automobiles and with motorcycles. Through the cooperation in the area of marketing and sales, we will be able to attract new target groups for both companies all over the world.”
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