MV Agusta sold for 1 euro; Harley buys it for US$109m —

19 Фев 2015 | Author: | Комментарии к записи MV Agusta sold for 1 euro; Harley buys it for US$109m — отключены
MV Agusta 350 Scrambler
MV Agusta 350 Scrambler

MV Agusta sold for 1 euro; buys it for US$109m


I Proton has some explaining to do. It MV A u gusta for 1 euro after it for RM368 million. Now look at – AP reports on 11 July the following:

Inc. said Friday it buy Italian motorcycle maker MV Group for about $109 to boost its presence in Europe, it entry into the popular bike market there.

And a report from Bernama a of years ago.

Proton Defends Sale Of MV

KUALA LUMPUR, June 16 — In what appears to be an unending Proton Holdings Bhd has again out in defence of its sale of financially-troubled MV reiterating that there no synergies between the motorcycle and Proton as a car maker.

Describing criticisms over the sale and in management announced by Proton in 2005 as “uninformed speculation”, the car company said there was “a among some to acknowledge provided earlier”.

Proton was referring to its adviser and former Minister Tun Dr Mahathir Mohamad and its chief executive officer Tan Sri Mahaleel Tengku Ariff who continued their criticisms these matters.

“There were no operational, and technological synergies between and Proton. This has been confirmed by Proton’s appointed Proton manufactures cars for the while Agusta manufactures the company said in a statement

The saga began to unfold on 28, 2005, when Tengku in an interview with a vernacular complained that the government was not Proton enough and that it was treated unfairly.

His last salvo on the matter was at a conference at his house in Damansara on April 14, where he claimed key questions raised by himself and Dr have not been answered, which was the loss that which bought MV Agusta for million, incurred when it its stake in the Italian company for one

Proton bought a 57.75 stake in MV Agusta in December for 70 million euro (RM367.6

MV Agusta 350 Scrambler
MV Agusta 350 Scrambler

The current management sold the to Italy’s GEVI Spa, also assumed the motorcycle 107 million euro debt.

said the entire purchase of RM367.6 million was treated as and written off in the financial year March 31, 2005.

The additional relating to MV Agusta in the accounts of the group for the financial year March 31, 2006, amounted to million.

“In the event MV Agusta into bankruptcy, Proton have been subjected to a liability for an amount of up to RM923.1 Proton said.

The company also reiterated the decision to dispose the stake in MV was after careful consideration of the and operational implications to the Proton both in the immediate as well as the term.

“The primary was to minimise future potential for the group,” it said.

According to it wants to put the matter to rest as it to move forward to focus on its business, which is designing, manufacturing and selling cars appeal to the market.

“The key challenge now for Proton is to real progress and advancement in very competitive global industry,” the company said.

MV Agusta 350 Scrambler
MV Agusta 350 Scrambler
MV Agusta 350 Scrambler
MV Agusta 350 Scrambler


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