MV Agusta On Its Way To Full Recovery

Financial Support Comes From Russian Billionaire Timur Sardarov

MV Agusta CEO Giovani Castiglioni.Bruno dePrato

After months of contracts, negotiations, times of anguish and times of optimism, MV Agusta CEO Giovanni Castiglioni is now proceeding to complete what I would call a rather brilliant rescue operation. And, given how things looked in March last year when MV Agusta applied for Chapter 11, I expect that most of you will agree.

To bring MV Agusta back to health, Castiglioni has brought on his new partner and massive investor, Timur Sardarov, CEO of Black Ocean Investment Group. It was around the end of last year that news came that Mr. Sardarov had confirmed interest in financially supporting the ailing MV Agusta, and now the deal has closed. Castiglioni and Sardarov created a Russian nesting dolls-style financial company, intended to preserve MV Agusta’s core business from any further financial backlash. The core of the multi-shell company is MV Agusta Motors, with its premises, its potential and, even more importantly, its great name and tradition intact.

MV Agusta Motors will be controlled by the recently established MV Agusta Holding. This merged the assets of Castiglioni’s investment company CG Holding and the fresh capital poured in by Sardarov’s investment group. CG Holding has the majority in the partnership and Castiglioni will retain his role of CEO of MV Agusta Holding. First official act of the company will be the re-acquisition of the 25 percent total stock shares owned by Mercedes-AMG. This will restore MV Agusta to its full freedom of operation.

The final closing of the troubled past events should come not later than next autumn, when the Varese Court will formally announce the closing of the Chapter 11 administration. In fact the majority of the MV Agusta creditors have agreed to accept the settlements proposed by the administrators and thus the closing will be just a formal act by the judge. From then on, MV Agusta Motors and parent company MV Agusta Holding will be able to start from a clean sheet of paper. And, let me humbly add, from a better balanced line of models and, possibly, a new four-cylinder engine and related models.

Forza MV Agusta Motors!