Published on 18 Apr 2012 by Toni M.
Numerous financial sources in Europe and the State are already saying that the Audi-Ducati deal is done (Investindustrial’s Andrea Bonomi almost hinted at it) even if there is no official announcement yet.
A press release is expected later this afternoon following the Volkswagen shareholders meeting in Hamburg, Germany, that will formally give the okay to the acquisition of the Italian manufacturer for a rumored €860 million ( about $1.12 Billion).
With the acquisition of Ducati, VW will add a 12th brand to their already prestigious line-up and chairman of the supervisory board of Volkswagen Group Ferdinand Piech, who has a Ducati, has crowned his dream of owning the Italian marque just a day after celebrating his 75th birthday, even though many aren’t happy of taking over also Ducati’s debts and liabilites which are calculated to be under €200 million.
Apparently one of the reasons that the Volkswagen group wanted Ducati is so that they can finally compete against BMW also in the motorcycle market.
Nationalistic Italians are angrily complaining that another important piece of the country has fallen into foreign hands and that it is still another sign of declining and uninterested industrial society, and hardcore Ducatisti are currently bawling their eyes out, afraid that their iconic brand will loose its independence and move away from Borgo Panigale, while everyone is conveniently forgetting that Ducati was once owned by the Texas Pacific Group and that Investindustrial, the private equity firm that just sold Ducati, has only advisory offices in Italy, while their headquarters are in Great Britain and Luxemburg.