The partnership between Mercedes-AMG and MV Augusta is over as the automaker has sold its 25% stake in the motorcycle manufacturer.
The two companies joined forces back in 2014 when they signed an agreement which called for a "long-term partnership" that mainly focused on sales and marketing efforts.
At the time, Mercedes-AMG Chief Executive Tobias Moers said “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 partnership spawned the F3 800 show bike and put motorcycles in AMG dealerships but that apparently wasn't enough to justify the continued existence of the partnership. Instead, Mercedes-AMG has sold its stake to ComSar Invest which is part of the Black Ocean Group owned by Russain oil and gas tycoon Timur Sardarov.
The terms of the deal were not released but MV Agusta President Giovanni Castiglioni said "The transaction with ComSar Invest in our holding company through a capital increase and the acquisition of the shares previously held by Mercedes AMG in MV Agusta Motor S.p.A., represents an important milestone for our plan which has as a main objective the reinforcement of MV Agusta core business: the production of high-performance, high end motorcycles."
Of course, Mercedes-AMG isn't the only German automaker that is expected to drop its motorcycle partnership as Audi is reportedly in the process of accepting bids for Ducati.
Photo Gallery
Comments
Post a Comment