It’s officially confirmed, Ducati is not for sale
A little months before, we informed that Volkswagen Group were scrapping the plan to sell Ducati. Well, the news has been confirmed now by Rupert Stadler, Chief Executive Officer, and Audi Germany. Stadler said that VW Group-owned Audi is proficient of bearing the alteration cost of Ducati, without having to sell the premium motorcycle brand.
Stadler was quoted saying, “I can assure you that Ducati belongs to the Audi family. Ducati is the perfect implementation of our premium philosophy in the world of motorbikes.”
Earlier this year, Volkswagen, the parent company of Ducati and Audi was evaluating options for selling Ducati and the transmission maker Renk, in order to settle the diesel emission scandal lawsuit. Volkswagen even hired an investment banking company, ‘Evercore Partners’ to solicit bids on Ducati Motor Holding. However, the German company faced immense opposition from the board’s advisory group, particularly from the German Labour union which holds half the seats on the advisory board.
The news of Ducati being on sale had perked up many ears all around the world. Some of them included Bajaj, Eicher Motors (owners of Royal Enfield) and Hero MotoCorp from India. Eicher had come the closest to Volkswagen’s asking price of £1.5 billion, with a bid of £1.36 billion. Other international bidders built-in the likes of Italy’s Benetton family and the Harley-Davidson group.
This move does not come as a surprise since Ducati and Lamborghini have churned out good profit for its parent company in the last nine months. This has helped VW in settling the diesel gate lawsuit. However, some investors and interested buyers still expect that Volkswagen could change its mind and opt to sell Ducati, which according to them has the least strategic importance for the parent company. But that really seems unlikely now. For more updates on this, stay tuned to Greasepress.com.