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Mercedes-Benz AMG sells stake in MV Agusta

Michelle Liew

July 27, 2017

Mercedes-Benz AMG sells stake in MV Agusta

Photo credits: CarAndBike

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Photo credits: Hiconsumption

Recently, it has been announced that German brand Mercedes-Benz’s performance division AMG no longer holds a stake in the Italian firm MV Agusta. Mercedes-Benz’s 25% stake has been sold after three years of ownership and the Italians have confirmed that the stake has been bought by ComSar Invest, owned by Russian oil and gas magnate Timu Sardarov.

ComSar Invest has promised to continue investing in MV Agusta’s sales and service network, technology fields and marketing.

Photo credits: MV Agusta

According to Giovanni Castiglioni, the current owner of MV Agusta, the cash flow from the Russian firm is “another important element to the company’s deep turnaround plan started in 2016, based on the repositioning of the MV Agusta as a prime producer of super premium motorcycles”.

“Our main objective is the reinforcement of MV Agusta core business: the production of high-performance, high-end motorcycles,” said Castiglioni.