German carmaker Mercedes AMG owned 25 percent stake in MV Agusta, the Italian motorcycle manufacturer. Now, the German brand has sold its 25 percent stake to ComSar Invest, which is a part of the Black Ocean group.
With this move comes the end to a sales and marketing partnership between the two companies that was signed back in 2014. The President and owner of MV Agusta, Giovanni Castiglioni, said that the company had improved its financial situation after a recent restructuring.
An official statement from MV Agusta stated: "The new shareholding structure of MV Agusta Holding, which will control 100 per cent of MV Agusta Motor S.p.A., will see ComSar Invest as a strong minority shareholder and GC Holding, the investment company of Giovanni Castiglioni, owning the controlling stake."
The value of the sale is undisclosed, but as per reports, MV Agusta's capital would see an increase, along with the focus to make high-end performance motorcycles.
Mercedes had bought a stake in MV Agusta in 2014 for 30 million Euros. The recent sale of the same stake would have had a larger value. More capital investment means that the motorcycle manufacturer can develop or improve the current motorcycle lineup to cater to a larger group of customers.