MV Agusta Receives Investment From Black Ocean Group

By Ajinkya

MV Agusta's financial woes are known by everyone in the automobile industry. The Italian superbike manufacturer has found some respite this time in the form of a new funding round. So far, not all details on the latest funding have been revealed.

MV Agusta Receives Investment From Black Ocean Group

Black Ocean Group from Russia has invested in MV Agusta. An official agreement between the duo was established on November 17, 2016. Giovanni Castiglioni, CEO, MV Agusta has expressed that he is pleased to have Black Ocean Investment Group backing him.

MV Agusta Receives Investment From Black Ocean Group

Currently, MV Agusta is witnessing difficulty with part-owners AMG. The German automobile brand has a clause where if MV Agusta wants to buy off their shares, they have to be debt free. Latest investment from Black Ocean Group could aid in AMG's departure.

MV Agusta Receives Investment From Black Ocean Group

Several suppliers have stopped providing components to MV Agusta. A few suppliers have provided MV Agusta with the option of paying upfront for parts and components. Black Ocean Group's investment is likely to be utilised for resuming operations.

English
Read more on: #mv agusta #auto news
Article Published On: Monday, November 21, 2016, 14:43 [IST]
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