Wednesday, 18 April 2012
Audi Officially Announces Ducati Purchase
April 18th. Audi Officially Announces Ducati Purchase
Audi has officially announced it has acquired Ducati Motor Holding from Investindustrial. Terms of the deal were not announced, though they should be made available April 19 at the annual stockholders meeting for Audi’s parent company, the Volkswagen Group. Previous reports have the price pegged at 860 million euros (US$1.1 billion). (Updated with statement from Investindustrial.)
“Ducati is known worldwide as a premium brand among motorcycle manufacturers and has a long tradition of building sporty motorcycles,” says Rupert Stadler, chairman of the board of management of Audi. “It has great expertise in high-performance engines and lightweight construction, and is one of the world’s most profitable motorcycle manufacturers. That makes Ducati an excellent fit for Audi.”
Audi says it will benefit from Ducati’s knowledge of lightweight construction and “the progressive control systems and special combustion chamber process of Ducati engines”.Ducati’s minority owners, Hospitals of Ontario Pension Plan and BS Investimenti, also sold their stakes. The transaction still has to get authorization from antitrust authorities.
Statement from Andrea Bonomi, Investindustrial chair:“ Ducati has thrived with us as a result of the intensive industrial turnaround and the commercial push into new, fast-growing markets. We are convinced that the company will continue to provide a bright and rewarding future to its customers and employees in the very capable hands of Audi. We believe that Audi is the best partner to continue the globalisation process that has already been successfully initiated.
The management team, led by Gabriele Del Torchio, and the Ducati’s skilled and passionate workforce have been a key element in turning the company into a global brand with some of the most exciting motorcycle models currently on the market. I am convinced Audi will be a responsible new owner, preserving the Italian workforce’s technology skills for a bright future for the Company. Ducati has a loyal and growing customer base, which will be well looked after thanks to Audi and Volkswagen Group’s global presence and engineering excellence.”
[Source: Audi, Investindustrial]