The day has finally come, folks.
Remember when Pierer bought a 25.1% stake in MV Agusta… and that May of 2023 saw Pierer Mobility/KTM wanting a bigger chunk of MV Agusta than the 25.1% stake acquired?
Well, we thought the parent company of KTM wouldn’t double their stakes in Agusta until spring of 2026, but it seems both parties are keen on a bit of a rush order – heck, even the press release states that the acquirement is being “exercised prematurely” (per Pierer’s press release).
What does this mean for Pierer and MV Agusta? In plain-speak, Pierer/KTM now owns a majority stake in MV Agusta.
What does a majority stake mean for MV Agusta and Pierer/KTM?
More MV Agusta bikes
According to the release, “KTM is taking over industrial leadership,” with a site expansion and capacity increase expected to punt out 10,000 “premium motorcycles” for MV Agusta per annum.
A CEO shuffle
Timur Sardarov, previously MV Agusta’s Chief Executive Chairman/CEO, has been officially reallocated to the position of Vice Chairman, brand ambassador, and consultant.
This leaves his previous title open for Hubert Trunkenpolz to take the CEO title.
Parting words from MV Agusta’s previous CEO
Here are some words from Sardarov on the recent actioning:
“MV Agusta embodies passion and a unique sense of romance that captivated me, a seasoned entrepreneur, from day one. The personal challenge of guiding the company out of crisis and steering it towards success through innovative business strategies, team expansion, and new product developments has been conquered. It is an honour to play a role in shaping MV Agusta’s legacy. Over the past five years, both the company and I have evolved significantly. Our growth together is a testament to the transformative journey we’ve shared.” – Timur Sardarov, previous CEO and now current Vice-Chairman of MV Agusta. (MCN) |
Overall, it looks like MV’s Lucky Explorer is now completely out of luck, and the celebrations of financial success will continue into the near future.
What do you think of Pierer/KTM’s move to acquire more of MV Agusta?