PIERER Mobility: Early takeover of majority stake in MV Agusta

PIERER Mobility AG / Key word(s): Strategic Company Decision
PIERER Mobility: Early takeover of majority stake in MV Agusta

15-March-2024 / 17:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad hoc announcement pursuant to article 17 Regulation (EU) No 596/2014 (MAR)

Ad hoc announcement pursuant to article 53 LR 

Wels, March 15, 2024

 

PIERER Mobility: Early takeover of majority stake in MV Agusta

  • Call option to acquire majority stake in MV Agusta Motor S.p.A. to 50.1% exercised prematurely
  • KTM is taking over industrial leadership
  • Site expansion and capacity increase planned in Varese

 

Call option to acquire majority stake in MV Agusta Motor S.p.A. to 50.1% exercised prematurely

In November 2022, KTM AG, a subsidiary of PIERER Mobility AG, acquired 25.1% of MV Agusta Motor S.p.A., based in Varese (Italy), as part of a capital increase. As part of this cooperation, KTM AG took over the supply chain and purchasing of MV Agusta in October 2023. In addition, MV Agusta's product range is also distributed in part via PIERER Mobility's global sales network. The call option granted to KTM AG on the basis of the annual financial statements as of December 31, 2025 to acquire a majority stake in MV Agusta Motor S.p.A. will now be exercised prematurely. The purchase price for the remaining 25% of the shares was calculated in accordance with the previously agreed valuation method (EBITDA multiple). This means that KTM AG will take over the majority and also the industrial management of MV Agusta Motor S.p.A. In the medium term, an annual production volume of more than 10,000 MV Agusta premium motorcycles is planned at the site in Varese.

 

New CEO position filled by Hubert Trunkenpolz

With the early takeover of the majority and as a commitment to the location and responsibility for the employees, Hubert Trunkenpolz, member of the executive board of PIERER Mobility AG, is taking over the role of CEO and Chairman of the board of directors from Timur Sardarov, who will continue to be available to the company as Vice-Chairman, brand ambassador and consultant.

 

About MV Agusta Motor S.p.A:

MV Agusta is one of the world's leading manufacturers of premium motorcycles. Based in Varese, northern Italy, the company manufactures legendary racetrack-derived motorcycles. Iconic design and first-class performance thanks to cutting-edge technology and state-of-the-art materials make MV Agusta motorcycles highly regarded around the world and celebrated as unique style icons of motorcycle art. Since 1945, the brand has become an integral part of the industry, winning 37 world championship titles. A record that is still unchallenged

 

About the PIERER Mobility Group:

PIERER Mobility AG is the holding company of Europe’s leading manufacturer of powered two-wheelers, producing a full range of premium brands including KTM, GASGAS, Husqvarna and MV Agusta Motorcycles. With its innovative strength, PIERER Mobility is a pioneering technology leader in two-wheeled e-mobility through its motorcycle brands. Husqvarna and GASGAS E-Bicycles complement the two-wheeler range. The premium brand range also includes high-performance components under the WP brand and special KTM X-BOW high-performance sports cars.

 

Legal disclaimer

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF PIERER MOBILITY AG. IT IS NOT FOR DISTRIBUTION, TRANSMISSION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

 

 

Contact:

Investor Relations

Melinda Busáné Bellér

Tel: +43 (0) 1 533 1 433 - 70

Email: ir@pierermobility.com

Website: www.pierermobility.com

 

ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker Symbol: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S; PKTM.VI



End of Inside Information

15-March-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com



show this