Daimler's Mercedes-AMG unit to take 25 per cent stake in Italian motorbike maker MV Agusta

BERLIN – Daimler says it is taking a 25-per cent stake in Italian motorcycle maker MV Agusta for an undisclosed amount.

Daimler AG said Friday that its Mercedes-AMG subsidiary will acquire the stake as part of a long-term co-operation agreement that also will see the companies work together on marketing and sales.

Mercedes-AMG will appoint one member of MV Agusta’s board of directors under the deal and Daimler says it expects to have authorities’ approval for the transaction in late November.

Mercedes-AMG chief executive Tobias Moers says the deal will give the company “an entry into a world of additional high-performance enthusiasts.”