MV Agusta is financially sound again. The court of Varese has declared the procedure “Concordato Preventivo in Continuità Aziendale”, an arrangement with creditors under Italian law, as resolved, after verifying that all outstanding debts to creditors and all obligations under the arrangement have been paid in full.
The exit from the Arrangement with Creditors completes the restructuring process of MV Agusta Motor SpA. An excellent result that, according to the Italians, was made possible thanks to the strong commitment of the Sardarov family, who took control of the company 4 years ago and supported it financially from the start.
The Sardarov family injected more than €180 million to restructure all business operations, pay off all debts under procedure, support the day-to-day operations of MV Agusta and ensure the company has a solid business plan for future growth.
The arrival of the new partner, KTM AG, a company of PIERER Mobility AG, proves that MV Agusta has been put on the right track and marks another positive development under the leadership of CEO Timur Sardarov, who emphasizes that a difficult phase in history of the company is now officially over and that MV Agusta now has a solid foundation to live up to its status as one of the greatest brands in motorcycle history.
“Since my arrival at MV Agusta, the settlement of the composition with the creditors has been one of my main objectives to regain the trust of our customers and our suppliers.
Despite the negative effects of the pandemic, the sharp rise in raw material costs and the outbreak of war in Ukraine, the commitment and professionalism of MV Agusta’s management have delivered this important result.
We must now look to the future with renewed confidence, comforted by the success of our new models. The cooperation with KTM AG already energizes our company on all fronts, from the production of new models and the expansion of our dealer network to improving the quality of service for our customers.
Our dark years are over, as we have finally created the conditions for MV Agusta to write a new chapter in motorcycling history.”
– Thanks for information from Motorfreaks.