EQS-Adhoc

PIERER Mobility: Early takeover of majority stake in MV Agusta

EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Strategic Company Decision PIERER Mobility: Early takeover of majority stake in MV Agusta 15-March-2024 / 17:53 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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.