Varese, 22 December 2014 – MV Agusta, SACE and Banca Popolare di Milano (BPM) have announced the finalization of a € 15 million loan to support the foreign growth objectives of one of the best-known brands of Italian motorcycles.
The purpose of the line of credit, issued by BPM and guaranteed by SACE, is to implement the 2014-2018 business plan of MV Agusta, which includes extension of the product range with new models and penetration into high-potential markets such as the USA, Brazil and Southeast Asia. The loan comes after the recent acquisition by Mercedes AMG of a 25% interest in MV Augusta.
“We are proud to have taken part in this transaction, sustaining one of the brands most representative of Italian design and technology,” declared Giammarco Boccia, Northwest Area Manager of SACE. “We shall continue to accompany MV Agusta with our insurance-financial products in its development in the most promising markets for motorcycle sales.”
“The support of two financial partners like BPM and SACE is essential for this decisive moment of growth for MV Agusta. Leveraging on their unquestioned capacity, we can successfully continue our development,” said Giovanni Castiglioni, Chairman of MV Agusta Motor S.p.A.
MV Agusta, a historical name in Italian motorcycle racing, has been producing commercial and competition motorcycles since 1945 for the supersport, superbike, sport-naked and crossover categories. Today it is one of most highly-touted brands in Europe for motorcycles of large and midsize displacement, a symbol of Italian quality and technological innovation developed directly within the company-owned Castiglioni Research Center of San Marino. MV Augusta’s exports to over 50 countries around the globe represent 80% of its total sales.