MV Agusta Holding and Black Ocean signed the agreement for a capital increase in MV AGUSTA.

The international investment company Black Ocean Group and MV AGUSTA Holding, major shareholder of MV AGUSTA MOTOR SPA, signed binding agreements for a capital increase in MV AGUSTA on the 17th of November.

The recapitalization of the world famous Italian motorcycle manufacturer together with the the restructuring plan of the company has the aim of consolidating its leadership in the production of high end motorcycles under the MV AGUSTA brand. The closing of the transaction is expected to coincide with the homologation of MV AGUSTA restructuring plan.

Black Ocean, which is part of the international holding Ocean Group, is an investment group, founded by entrepreneurs Oliver Ripley and Timur Sardarov, with offices in New York, London and Luxembourg. The company has invested and built a diverse group of businesses spanning technology investments, private aviation, real estate and agriculture. Oliver Ripley, CEO of Black Ocean, commented : We are very pleased to become part of such an iconic Italian company and excited by the opportunity to build this into a truly international brand and industry leader.

Giovanni Castiglioni, CEO of MV AGUSTA, announced: I am very pleased that we have reached this agreement with Black Ocean. Beyond the strengthening of our capital, which is important for the future growth of MV AGUSTA, I strongly believe that Mr Sardarov , Mr Ripley and their global team will be able to contribute with their entrepreneurial and managerial skills in the consolidation of MV AGUSTA as a key player in the super premium motorcycle market.

The details of the agreement have not been disclosed by the parties.