General

MV Agusta secures €15 million loan for 'international development'

New models and more international presence planned

MV AGUSTA has secured a €15 million loan to help support the Italian firm’s foreign growth objectives.

The money will help implement MV’s 2014-2018 business plan, which includes a number of new models and more presence in ‘high-potential’ markets such as the USA, Brazil and Southeast Asia.

A statement released last month says the loan will be supplied by Banca Poplare di Milano (BPM) and guaranteed by SACE Group.

Giovanni Castiglioni, Chairman of MV, said: ‘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,’

The move comes shortly after Mercedes’ AMG sub-brand bought 25% of MV Agusta, giving the motorcycle manufacturer a much firmer footing for the future, while allowing the German car firm to have a motorcycle arm to compete with Ducati and BMW’s motorcycle division.

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