MV Agusta return to independence as KTM AG sell 50.1% majority stake to the Sardarov family
KTM’s parent company, Pierer Mobility AG, has now officially confirmed that the Austrian orange brand has sold its 50.1% majority stake in MV Agusta, returning control of the boutique Italian name to former CEO Timur Sardarov.
KTM upped its share of the Varese exotica brand in spring 2024, when it purchased an additional 25% of the company. The first 25.1% chunk of MV was purchased back in November 2022.
The sale comes as part of KTM’s ongoing financial difficulties, which have resulted in an ongoing 90-day ‘self-administration’ process. Their share of the business has been sold to minority shareholders, Art of Mobility S.A – a company controlled by the Sardarov family.
According to a statement from Pierer Mobility, the transaction is expected to be completed in the first half of 2025 – with the value of the purchase said to be in the ‘mid double-digit million range.’
“This is a moment of pride for all of us at MV Agusta,” Art of Mobility CEO, Timur Sardarov said. “Regaining full control of the company means we are now stronger and more focused than ever on delivering excellence.
“Over the past two years, the company has significantly strengthened its processes, systems, and workforce. These structural changes are the foundation of the extraordinary results achieved in 2024 and will continue to drive our success in the years to come.
“I have full confidence in our leadership team, whose vision, combined with the dedication and professionalism of our renewed dealer network, will take MV Agusta to new heights. My commitment, and that of my family, is to be a vital force for the Varese team, the region, and all our partners.”
According to MV themselves, all of their 219 global dealers and 41 service centres will continue as business as usual. The number of dealers is also predicted to rise to 270 by the end of 2025.
Across 2024, the company sold 4000 motorcycles, resulting in an annual growth rate of 116% compared with 2023.
