KTM, PIERER Mobility announce early takeover of MV Agusta
KTM and parent company PIERER Mobility AG recently announced that they are exercising a call option to acquire a 50.1% majority stake in MV Agusta Motor S.p.A. a year earlier than planned. This means KTM AG will take over industrial leadership and expand the factory in Varese, Italy, to increase capacity.
In November 2022, KTM AG, a subsidiary of PIERER Mobility AG, acquired 25.1% of MV Agusta, based in Varese, as part of a capital increase. As part of this cooperation, KTM AG took over the supply chain and purchasing of MV Agusta in October 2023. In addition, MV Agusta’s product range is also distributed in part via PIERER Mobility’s global sales network, according to statements from the company.
Call option
The call option to acquire a majority stake in MV Agusta was granted to KTM AG based on the annual financial statements for 2025, but this has now been changed to 2024. The purchase price for the remaining 25% of the shares was calculated in accordance with the previously agreed valuation method (EBITDA multiple).
KTM AG will take over the majority stake and also the industrial management of MV Agusta Motor S.p.A. KTM says it plans to help MV Agusta ramp up its production volume to more than 10,000 motorcycles after the expansion of the Varese factory is completed.
New CEO named
As a result of the early takeover, Hubert Trunkenpolz, a member of the executive board of PIERER Mobility AG, is taking over the role of CEO and chairman of the board of directors from Timur Sardarov, who will continue to be available to the company as vice-chairman, brand ambassador, and consultant.
