Harley Completes Sale of MV Agusta — Analyst Blog Benzinga

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Harley Completes Sale of MV — Analyst Blog

Inc. (HOG ) sold its sports bike subsidiary, MV back to its foremost owner, Castiglioni, and his wholly owned company, MV Agusta Motor effective August 6. Claudio served as MV Agusta’s chairman Harley acquired the brand on 11, 2008. The motorcycle maker has not the terms of the transaction.

MV Agusta has many hands before acquired it for $109 million. In Malaysian carmaker, Proton, has the brand for $94 million, which its ties with the brand a later and sold it to GEVI a Genoa-based financing company, for a euro excluding debt.

In October last year, announced its intention to divest MV as part of its corporate strategy to solely on its Harley-Davidson brand. The also revealed its plan to its another subsidiary, Buell run by the ex-Harley-Davidson engineer, Erik as a part of the same strategy.

In the second quarter of the year, showed more than a increase in profits to $139.3 or 59 cents per share from million or 14 cents per share a ago. With this, the maker also outperformed the Consensus Estimate of 42 cents per during the quarter. Revenues Motorcycles and Related Products flat at $1.14 billion in the

Harley’s profit was attributable to its restructuring actions, incorporated in its strategy. The actions included the new agreements at its facilities as well as of its Buell product line and the of its MV Agusta.

Revenues from Harley-Davidson inched up 2.8% to $831.6 due to marginally higher shipments. The maker’s global shipments to 59,046 units from units in the second quarter of

Despite the impressive results, we the company’s aging customer and slow recovery in the markets, its sluggish worldwide retail will continue to negatively the company. As a result, we continue to the shares of the company as Zacks#3 (Hold) in the short term months) and Neutral in the long (6+ months).

HARLEY-DAVIDSON (HOG ): Free Analysis Report

The following is from one of our external contributors. It not represent the opinion of Benzinga and has not edited.

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