Audi AG, the world’s second-biggest maker of luxury cars, plans to complete the 860 million-euro ($1.06 billion) purchase of Italian motorcycle manufacturer Ducati Motor Holding SpA later today.
We expect the announcement this afternoon from our colleagues in Bologna,” the motorcycle maker’s headquarters city, said Juergen De Graeve, a spokesman at Ingolstadt, Germany-based Audi.
Ducati sold about 42,000 of its sporty, luxury motorcycles last year. Revenue at the maker of the Monster, Diavel and Superbike models amounted to 480 million euros in 2011. The company employs about 1,100 people.
Audi announced plans on April 18 for Ducati’s acquisition from Investindustrial Advisors SpA and was waiting for antitrust approval. After the deal’s completion, non-executive board members from Investindustrial will leave and be replaced by Audi managers, De Graeve said, reiterating earlier comments from July 10, when he said Audi Chief Executive Officer Rupert Stadler is likely to join the Ducati board.
Current Ducati managers “will stay on board and remain responsible for business operations,” De Graeve said today.
More HERE
Your new post is loading...
