Pierer Mobility AG, the parent company of KTM and Husqvarna, has now acquired a majority 50.1 per cent in iconic Italian motorcycle brand MV Agusta. The Sardarov family, which owned the brand, will maintain joint control and hold a 49.9 per cent stake in the company, according to a release from MV Agusta. Timur Sardarov is transitioning from the role of CEO of MV Agusta to a new role as Vice Chairman, brand ambassador and consultant for the brand. Hubert Trunkenpolz, member of the executive board of Pierer Mobility AG, is taking over the role of CEO and Chairman from Sardarov.
Also Read: KTM To Take Majority Stake In MV Agusta
Iconic MV Agusta will now be under ownership of Pierer Mobility AG, the parent company of KTM and Husqvarna.
In November 2022, KTM AG acquired a 25.1 per cent stake in MV Agusta and announced that it is taking over supply chain support and purchasing for MV Agusta in October 2023 as part of the deal. Along with the stake takeover last year, Pierer Mobility also took over worldwide distribution of MV Agusta’s product line-up. With Pierer Mobility AG taking over majority stake in MV Agustawhich is earlier than the expected takeover in 2025, the group now owns controlling stake in the Italian motorcycle brand.
Also Read: Bajaj Auto Swaps Stake In KTM For Share In Parent Firm
India’s Bajaj Auto which manufactures small displacement KTM motorcycles in India, holds 49.9 per cent stake in PTW Holding, the parent firm of the larger Pierer Mobility Group.
This effectively means that India’s Bajaj Auto also indirectly has interests in MV Agusta as well now, considering Bajaj holds 49.9 per cent in PTW Holding AG, the parent company of Pierer Mobility AG. In 2021, Bajaj Auto Limited (BAL) and Pierer Mobility restructured BAL’s stake in KTMwhere Bajaj used to hold 46.5 per cent stake. As a result of the stake swap, Pierer Mobility AG increased its stake in KTM to 98.2 per cent, while Bajaj Auto was given a 49.9 per cent in the larger PTW Holdings AG, the parent company of Pierer Mobility.
