KTM Sells MV Agusta Controlling Stake Amid Financial Troubles
MV Agusta has regained independence after KTM sold its majority stake to Art of Mobility S.A., the family-owned company of Timur Sardarov. The transaction's financial details remain undisclosed, but KTM’s financial struggles, including declining sales and debt, led to the sale. MV Agusta experienced significant growth in 2024, achieving 116% motorcycle sales growth and a 99% parts availability rate.
KTM Sells MV Agusta Controlling Stake Amid Financial Troubles
Italian automaker, MV Agusta has announced its status of being independent after a deal that was finalised at the end of last month, resulting in Austrian automaker, KTM sold the majority stake of the former to its previous owner, Sardarov family-owned Art of Mobility S.A.
The details of the deal continue to be under wraps. However, Pierer Mobility AG (the parent company of KTM) disclosed that the transaction had an “enterprise value in the mid double-digit million range”, reflecting the combined market value of the stake, any outstanding debt and adjustments available for cash.
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The Austrian automaker has documented financial troubles owing to declining sales, overproduction and a struggling e-bike business. The current debt of KTM continues to be in the range of 2.2 million to 2.5 million. The sale of MV Agusta by KTM protects the Italian automaker from the latter’s financial troubles and restructuring as it continues to battle insolvency proceedings.
Timur Sardarov, CEO of Art of Mobility, confirmed his company’s return to independence, stating, “Regaining full control of the company means we are now stronger and more focused than ever on delivering excellence.”
The Euro-exotic brand famous for its innovation and craftsmanship sold 4,000 motorcycles, marking a 116% year-over-year growth in 2024. Furthermore, it reportedly had its strongest year for parts sales, achieving a 99% parts availability rate for MV Agusta models produced within the past seven years.
MV Agusta and KTM had a brief partnership when both the companies agreed that the Austrian automaker would use its dealer network to distribute MV Agusta in North American markets. KTM bought a 25.1% stake in the Italian brand with a capital increase and by 2024, the Austrian automaker had exercised the option to become the controlling partner of the brand securing 50.1% stake.
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