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|28th December 2005, 11:54||#1|
Senior - BHPian
Join Date: Mar 2005
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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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