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Old 28th December 2005, 11:54   #1
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Default Proton sells MV Augusta stake for 1 Euro

Malaysia's Proton has reportedly agreed to sell its 58% stake in the Italian motorcycle maker MV Augusta - bought a year ago for about 70 Million Euros - to Italy's GEVI for ONE EURO......

Under the deal, the purchaser will assume debts totalling 106.95 Million Euros and working capital requirements of 32.50 million Euros.

Coming after the GM-Fiat splitup which cost GM 2 Billion, I think Italian businesses are very good at convincing others to buy into them at a loss.


Last edited by Steeroid : 28th December 2005 at 11:57.
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