Wednesday, August 11, 2010

MV Augusta sold for a buck... Why not a circuit?

Todays internet reports that MV Augusta has been sold for One Euro.
Here is a Quote or two from the article.

MV Agusta Sold for 1 Euro
Harley-Davidson to provide 20 million euro in escrow
By Motorcycle.Com Staff, Aug. 10, 2010
In addition to the $109 million spent to acquire MV Agusta, including $70 million to pay off existing debts, Harley-Davidson has written off $162.6 million in taxes for the Italian brand.
This isn’t the first time MV Agusta has been sold for 1 euro. In 2005, Malaysian carmaker Proton, which holds majority ownership of Lotus, sold its ownership MV Agusta to Italian finance company GEVI SpA. Proton originally paid 70 million euro for MV Agusta a year earlier.

Claudio Castiglioni and Son pic borrowed from article

Here is a footnote to a Wall Sreet Journal article:
A footnote: There is a certain element of should-have-known-better in this story. This isn’t the first time Harley-Davidson has had a hard time with an Italian acquisition. In the 1960s it bought a stake in Aermacchi, a maker of small off-road bikes as a way to expand into new markets. Eventually it bought the whole company, but thatmove also eventually failed and Harley sold Aermacchi in the late 1970s. The sellers and buyers: the Castiglioni brothers.

MV Augusta has been changing hands a lot recently. When Proton sold it, there was a lot of controversy.

I wish someone would sell me a circuit for a buck and then give me a huge working capital! I promise you won't be sorry!!
I'm serious about this.

I am available for such a project. It would be an outstanding success.
Think about it.


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