TK4
Well-known member
In November 2022 Italian trophy brand MV Agusta, wholly owned since 2019 by Russian entrepreneur Timur Sardarov and his family, and Pierer Mobility AG – KTM’s parent company – reached an agreement on ‘future strategic cooperation’, as a result of which the Austrian firm headed by Stefan Pierer would acquire a 25.10% stake in MV Agusta via its KTM AG subsidiary. At the first meeting of the newly constituted MV Agusta board on November 15, a capital increase of €30 million was agreed, denoting the sum KTM had paid to acquire its new minority shareholding in the company. As part of this strategic alliance KTM took charge of purchasing all components needed to manufacture MV Agusta’s entire range of models, as well as responsibility for marketing, distribution and after-sales service for MV Agusta on a global basis outside Italy. At that stage, no agreement was revealed for Pierer to assume a majority shareholding in the company, although on October 24, 2023 a call option was granted to KTM AG to acquire a majority stake in MV Agusta, which would be exercised in Spring 2026 based on a satisfactory financial statement as of December 31, 2025. But on March 15 this year it was announced that Pierer would now be exercising that call option prematurely, with immediate effect, and two years earlier than envisaged would acquire a further 25% of the shares to take outright 50.10% control of MV Agusta, for an unrevealed cash amount. Hubert Trunkenpolz, 62, a long-time member of the Executive Board of Pierer Mobility, would take over the role of CEO and Chairman of the Board of Directors from Timur Sardarov, who while retaining 49.90% of MV equity would continue to serve the company as Vice-Chairman, brand ambassador and consultant.
MV Agusta Chairman Hubert Trunkenpolz Interview | Motorcycle.com
MV Agusta Chairman Hubert Trunkenpolz Interview | Motorcycle.com
