Audi has officially announced plans to buy the famous Italian motorcycle maker Ducati from the Investindustrial SpA for €860 million ($1.1 billion).
The Supervisory Boards of AUDI AG and Volkswagen AG approved the acquisition yesterday in Hamburg. The terms of the agreement were not released, but the German company said that the transaction will be completed "as quickly as possible" once approved by government authorities.
In a statement, Chairman of the Board of Management of AUDI AG, Rupert Stadler said "Ducati is known worldwide as a premium brand among motorcycle manufacturers and has a long tradition of building sporty motorcycles. It has great expertise in high-performance engines and lightweight construction, and is one of the world's most profitable motorcycle manufacturers. That makes Ducati an excellent fit for Audi."
In 2011, Ducati sold around 42,000 motorcycles and had revenue of some €480 million ($630 million), employing around 1,100 people. The brand has manufacturing operations at its headquarters in Bologna and at its own factory in Thailand.
