MV Agusta Secures Funding From Russian Group, Black Ocean
New funding from the Black Ocean group of Russia can help MV Agusta restructure its Rs 361 crore debt and bring back operations at the same pace.
New funding from the Black Ocean group of Russia can help MV Agusta restructure its Rs 361 crore debt and bring back operations at the same pace.
Most of the people belonging to the automobile industry are aware of MV Agusta's financial woes. However, some reports coming from Russia suggests that the Italian manufacturer has found a new investor in the form of the Black Ocean group. Till now, the company hasn't revealed all the details on this new funding publicly but we can expect an official declaration soon.
Headed by Oliver Ripley and Timur Sardarov, Black Ocean is one of the most well-known investment companies, especially for funding a UK-based jet chartering company, the Ocean Sky. Apart from the restructuring of its Rs 361 crore debt, the new funding will also help MV Agusta in regaining the vigour in its production and R&D operations.
Like we said, it is no secret that MV Agusta, one of the most exotic superbikes manufacturers in the world, has a very unstable financial position. The company is at a condition where some of its suppliers are stopping the supply of components, demanding partial payment before restarting the supply. The high-performance wing of Mercedes-Benz, AMG, also has some stakes in the Italian motorcycle brand. However, it's not clear if the new investment will be the end of this partnership or not.
The funding from Black Ocean has come up with a new hope for the MV Agusta fans that the brand is not going to shut anytime soon. The company has recently made its official entry into the Indian market with three of its exotic superbikes - the F4, F3 800 and the Brutale 1090. Also, the company has recently announced the availability of its limited edition F3 800 RC race bike replica in the country, while the launch of the new Brutale 800 has been scheduled for early next year.
MV Agusta has a strategic partnership with Kinetic Group of India for marketing and sales of its motorcycles in the country via their Motoroyale dealerships. Motoroyale is a chain of high-end motorcycle stores from the Kinetic Group and the company has 3 such showrooms in the country as of now.