Audi Acquisition of Ducati Announcement Due Next Week Says Reuters Report
by, 04-11-2012 at 04:23 PM (8055 Views)
Though rumored for at least a month, Audi is poised to announce its acquisition of Italian motorcycle manufacturer Ducati says a Reuters report. Two unnamed Reuters sources described as "familiar with the matter" say Audi encountered no major stumbling blocks during performance of its due diligence, which suggests all systems are go.
The Reuters report seems to think the announcement could come on April 18, one day ahead of the Volkswagen annual shareholder meeting slated to happen in Hamburg, Germany. One source suggested that major Ducati shareholder, Investindustrial, would only talk with Audi regarding a buyout. The acquisition would move the Volkswagen Group portfolio to 12 brands - a target Ferdinand Piech has eyed for some time.
Timing is also consistent with the end of the Audi exclusive discussion period according to Italian newspaper Corriere della Sera, siting that period as ending on April 15. The newspaper also suggests that Audi tried to buy Ducati back in 2005, but that Investindustrial trumped the offer and picked up the motorcycle company from its then owner Texas Pacific Group.
Read more from this report via the link below.
Audi may announce Ducati buy next week: sources | Reuters.com