IN A BID TO streamline its operations and shore up its finances following the diesel emissions scandal, Volkswagen is considering selling Ducati, reports Reuters.
The business news publication also states that VW has already started contacting potential buyers to gauge interest in Ducati.
The Volkswagen Group, which owns marques including Ducati, Audi, Bugatti, Lamborghini, Porsche and Bentley, is reportedly cutting back spending across the entirety of its business. Thousands of job cuts are expected to take place at VW as the company reigns in its finances and refocuses its efforts on electric cars.
Reuters' unnamed sources say that VW has asked the investment bank Evercore to evaluate options for streamlining its finances – which includes the sale of Ducati, which it bought in 2012 for a reported €860 million.
Reuters speculates that Ducati could be valued at up to €1.5 billion and could be sold parties including India’s Hero corporation, Polaris, or a consortium of buyers. Another option could include floating Ducati on the stock market.
Following the discovery that its diesel vehicles were fitted with devices designed to cheat emissions tests, in April this year a US federal judge ordered the Volkswagen Group to pay a $2.8 billion criminal fine.