the sale of its subsidiary, MV Agusta, to Claudio Castiglioni and his wholly
owned holding company, MV Agusta Motor Holding, S.r.l., effective today.
Castiglioni is the former owner of the Italian motorcycle maker and has
served as MV Agusta's chairman since 2008, when Harley-Davidson acquired the
company.
In October 2009, Harley-Davidson announced its intention to sell MV Agusta
as part of a new corporate strategy to focus resources on the
Harley-Davidson brand. Since then, Harley-Davidson has held discussions with
various potential MV Agusta buyers.
"MV Agusta is a proud brand and we wish Mr. Castiglioni and the company's
employees well," said Harley-Davidson President and Chief Executive Officer
Keith Wandell. "Our decision to divest MV Agusta reflects our strategy to
focus our efforts and our investment on the Harley-Davidson brand, as we
believe this provides an optimal path to long-term growth."
Company Background
Harley-Davidson, Inc. is the parent company for the group of companies doing
business as Harley-Davidson Motor Company (HDMC), Harley-Davidson Financial
Services (HDFS) and Buell Motorcycle Company (Buell).
