Industry

Nearly two million Euros for a Moto Morini?

Well, it was the whole company...

MOTO MORINI has seemingly been saved once again as a new group of Italian investors has bought the company in a last-ditch bid as the bankrupt firm was auctioned off.

A newly formed group, under the name Eagle Bike and made up of banker Sandro Capotosti and former company CEO Ruggeromassimo Jannuzzelli, swooped in with 1.96 million Euros to buy up the brand and its remaining assets.

Eagle Bike apparently plans to restart production of the existing Moto Morini models, although the sale has yet to be entirely completed as there are legal procedures to finish. Since Italy's businesses tend to close down for the entire month of August, it may well be September before more concrete news about the firm's plans emerges.

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