The disposal of the Italian firm is part of Harley-Davidson’s strategy to concentrate purely on its core brand, something the now defunct Buell fell victim to last year.
Keith Wandell, Harley-Davidson President and Chief Executive Officer, said, "Our decision to divest MV Agusta reflects our strategy to focus our efforts and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to long-term growth." However, he didn’t disclose what the sales proceeds were.
It’s not as if the Castiglionis will have to re-familiarise themselves with the business. Claudio Castiglioni - who along with Giovanni Castiglioni and Massimo Bordi will be running MV Agusta - remained as the company’s chairman throughout the short period of Harley-Davidson ownership.
MV Agusta also owns the Cagiva brand.
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