Harley moving forward on sale of Italian subsidiary
Harley-Davidson Inc. has selected the investment banking firm BNP Paribas in Milan, Italy, to assist in its sale of MV Agusta.
Milwaukee-based Harley-Davidson is identifying potential buyers for the Italian-based motorcycle company.
"MV Agusta is a highly desirable company for the right buyer," said Harley-Davidson senior vice president and chief financial officer John Olin. "MV Agusta has a proud heritage and strong brand, high-quality exciting and beautiful products, and passionate enthusiasm on the part of its customers, employees and dealers, and we are confident in our expectation that we will identify an appropriate buyer."
Harley-Davidson announced its plans to divest MV Agusta in October, as part of its go-forward business strategy to focus its effort and investment on leveraging the unique strengths of the Harley-Davidson brand to reach new customers, strengthen relationships with existing customers and grow the Harley-Davidson brand worldwide.
Under Harley-Davidson’s ownership, MV Agusta has restored production operations and continues to invest substantially in product development, including the recent unveiling of the new Brutale and F4 models.