At the first meeting of the newly constituted MV Agusta board on November 15, a capital increase of €30million was agreed - the sum KTM paid to acquire its minority shareholding in the company. As part of this alliance, KTM took charge of purchasing all components needed to manufacture MV Agusta's entire range of models, as well as responsibility for marketing, distribution and after-sales service on a global basis outside Italy.
At that stage, no agreement was revealed for Pierer to assume a majority shareholding in the company, although on October 24, 2023 an option was granted to KTM AG to acquire a majority stake in MV Agusta, which would be exercised in Spring 2026 based on a satisfactory financial statement as of December 31, 2025. But, in March this year, it was announced that Pierer would be exercising that call option prematurely, with immediate effect and, two years earlier than envisaged, would acquire a further 25% of the shares to take outright 50.10% control of MV Agusta, for an unrevealed cash amount. Hubert Trunkenpolz, 62, a long-time member of the Executive Board of Pierer Mobility, would take over the role of CEO and Chairman of the Board of Directors from Timur Sardarov who, while retaining 49.90% of MV equity, would continue to serve the company as Vice-Chairman, brand ambassador and consultant.
The chance to interview Hubert Trunkenpolz - whose family name denotes the 'T' in KTM, and who has been associated with Stefan Pierer since he rescued KTM from bankruptcy in December 1991 - about Pierer Mobility's plans for Italy's most historic manufacturer, winner of 270 Grand Prix races, 38 World Riders' Championships, and 37 World Constructors' Championships, came by visiting the historic MV Agusta factory at Schiranna, on the shores of Lake Varese. Here's what he had to say.
AC: Hubert, why did KTM AG purchase a majority shareholding in MV Agusta?
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