EQS-Adhoc
PIERER Mobility: Early takeover of majority stake in MV Agusta
- Early takeover of majority stake in MV Agusta by PIERER Mobility
- KTM to take over industrial leadership and expand capacity
- New CEO Hubert Trunkenpolz appointed, Timur Sardarov remains as Vice-Chairman
EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Strategic Company Decision Ad hoc announcement pursuant to article 17 Regulation (EU) No 596/2014 (MAR) |
Ad hoc announcement pursuant to article 53 LR
Wels, March 15, 2024
PIERER Mobility: Early takeover of majority stake in MV Agusta
- Call option to acquire majority stake in MV Agusta Motor S.p.A. to 50.1% exercised prematurely
- KTM is taking over industrial leadership
- Site expansion and capacity increase planned in Varese
Call option to acquire majority stake in MV Agusta Motor S.p.A. to 50.1% exercised prematurely
In November 2022, KTM AG, a subsidiary of PIERER Mobility AG, acquired 25.1% of MV Agusta Motor S.p.A., based in Varese (Italy), as part of a capital increase. As part of this cooperation, KTM AG took over the supply chain and purchasing of MV Agusta in October 2023. In addition, MV Agusta's product range is also distributed in part via PIERER Mobility's global sales network. The call option granted to KTM AG on the basis of the annual financial statements as of December 31, 2025 to acquire a majority stake in MV Agusta Motor S.p.A. will now be exercised prematurely. The purchase price for the remaining 25% of the shares was calculated in accordance with the previously agreed valuation method (EBITDA multiple). This means that KTM AG will take over the majority and also the industrial management of MV Agusta Motor S.p.A. In the medium term, an annual production volume of more than 10,000 MV Agusta premium motorcycles is planned at the site in Varese.