MV Agusta Motor have announced a capital increase of 30 million euros on the part of the company’s shareholders and KTM AG ahead of the shareholders’ meeting that took place on November 15th, 2022.
During the meeting, the new shareholder, KTM AG, a company of Pierer Mobility AG that now holds a 25.1 per cent stake in the company’s equity was officially introduced. MV Agusta’s new board of directors now also includes two members of KTM’s senior management team.
Timur Sardarov, CEO of MV Agusta Motor S.p.A. stated: “I am excited about this important agreement, and delighted to welcome KTM AG, Europe’s leading powered two-wheeler manufacturer, into the MV Agusta family. Driven by our shared vision of excellence, the principal goals of our alliance will be the consolidation of our core business and the production of high-performance motorcycles in the premium segment. I am confident that the agreement will strengthen our brand in a complex and challenging marketplace”.
KTM are one of the top brands sought after by customers in India. The Duke and RC series comprise bikes with displacements starting from 125 cc to 390 cc. The bike maker entered the adventure segment with the 250 and 390 cc engine and that attempt also has been received well by the Indian two-wheeler market.
Story: Sumesh Soman
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