After ten months

Million-dollar deal: KTM sells majority stake in luxury brand

All out: KTM sold the majority of MV Agusta after less than a year.

(Bild: Krone KREATIV/Markus Wenzel, MV Agusta)

Intensive negotiations have taken place in recent weeks - now it is clear: KTM is selling its majority stake in MV Agusta. The motorcycle manufacturer, which had slipped into insolvency, had only held the 50.1 percent stake since March 2024. The previous minority shareholder is buying the shares in the Italian luxury brand for a mid double-digit million euro amount.

In November 2022, KTM AG acquired 25.1 percent of MV Agusta Motor S.p.A., and in March 2024, the Mattighofen-based company increased its shares to a total of 50.1 percent and thus acquired a majority stake in the Italo luxury brand - less than a year later, it's now all over!

As part of the reorganization process, KTM sold the MV Agusta shares to Art of Mobility S.A., a company in Luxembourg that already held the remaining 49.9 percent of MV Agusta. The deal, which still has to be approved by the committees and authorities, will bring a mid-double-digit million euro sum into KTM's coffers.

"Over 200 million euros in liquidity swallowed up"
It is certainly an end with horror for KTM, as CEO Gottfried Neumeister had only just explained at the extraordinary general meeting of Pierer Mobility AG on Monday that "the acquisition of MV Agusta and the loss financing took place at a time when the company was actually already in crisis last year". Neumeister continued: "The payment of the purchase price, but also the loss financing and the financing of the working capital of this company actually came at an inopportune time for the Group and swallowed up over 200 million euros in liquidity."

Production capacity was to be expanded
When KTM announced the majority takeover in March 2024, it also emphasized that the site in Varese was to be expanded in order to increase capacity. The aim was to produce more than 10,000 premium motorcycles. Former Pierer Mobility board member Hubert Trunkenpolz took over the management role at MV Agusta. The previous boss, Timur Sadarov, remained on board as Trunkenpolz's deputy and as a brand ambassador and consultant. KTM had already taken over responsibility for the supply chain and purchasing for the Italian luxury brand in October 2003. MV Agusta is celebrating its 80th anniversary this year. Sadarov is also behind Art of Mobility S.A., which has now secured the 50.1 percent stake.