MV Agusta has been sold back to former owner Claudio Castiglioni by Harley-Davidson just two years after the Italian company was bought.
Castiglioni is the former owner of the Italian motorcycle maker and has served as MV Agusta's chairman since 2008, when Harley-Davidson acquired the company.
In October 2009, Harley-Davidson announced its intention to sell MV Agusta as part of a new corporate strategy to focus resources on the Harley-Davidson brand. Since then, Harley-Davidson has held discussions with various potential MV Agusta buyers.
"MV Agusta is a proud brand and we wish Mr. Castiglioni and the company's employees well," said Harley-Davidson President and Chief Executive Officer Keith Wandell.
"Our decision to divest MV Agusta reflects our strategy to focus our efforts and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to long-term growth."
Claudio Castiglioni stated "MV Agusta is the crown jewel of Italian motorcycles, I am thrilled to have completed this transaction. I have already won once together with Massimo Bordi, we made the most beautiful bikes in the world and we will continue with this tradition".
Along with Giovanni Castiglioni, the company will be headed by Massimo Bordi, a well known Italian manager.
A 62-year-old engineer, Bordi took Ducati to success during the years when that company was owned by the Castiglionis and continued to manage it successfully under the ownership of Texas Pacific Group.
Since 2003 Massimo Bordi has been the CEO of Same Deutz Fahr, contributing largely to the success of the company.
Massimo Bordi commented that "MV Agusta has full capacity to once again become a major player in the high luxury brand motor bikes, this brand is one of the most recognized worldwide.
"We will implement a number of reorganization and managerial actions in the near future.
"Both the current and new models under development have a very strong character, great innovative features and a very unique design, I have no doubts about their future success."