19 Apr '12, 5pm

Audi buys Italy’s Ducati

Audi buys Italy’s Ducati

Germany upmarket auto firm Audi , owned by Volkswagen , is to buy Ducati , the Italian maker of some of the most sought after high-speed motorcycles in the industry. “The deal will be completed as soon as possible after it is cleared by the authorities,” Audi said in a statement. It did not give financial details but press reports put the price at around 860 million euros ($1.12 billion). The deal will give Volkswagen an entry into the top-end motorcycle market, taking on its auto rival, BMW. Ducati, established in Bologna, northern Italy in 1926, is famous for its high-speed road and racing bikes, of which it sold 42,000 last year worth 480 million euros. Investindustrial, an investment fund, has controlled the company since 2006 with a 70 percent stake.

Full article: http://www.luxuo.com/automobile/audi-buys-ducati.html

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