Volkswagen, the owner of Audi, which is the owner of Ducati, is abandoning its attempt to sell the Italian motorcycle manufacturer due to strong opposition from Volkswagen’s labor groups, according to a report published by Bloomberg last week.
That report, published September 30, cited a local Union leader who said Ducati CEO, Claudio Domenicali, told his employees that Volkswagen’s supervisory board decided to halt the sale process.
Read the Bloomberg report here: https://www.bloomberg.com/news/articles/2017-09-30…
Volkswagen’s supervisory board must approve the sale of any asset, and members of the supervisory board representing the company’s employees hold half of the seats on the board and opposed the sale, according to a July 29 report by Reuters.
In June, Reuters reported that Volkswagen wanted to sell off Ducati for as much as $1.8 billion to help finance a restructuring of the company, which is still trying to recover from its diesel automobile emissions cheating scandal.
One potential bidder in a sale of Ducati was Harley-Davidson.