Proton Sold MV Agusta For 1 Euro

Wednesday, 28th December 2005

Proton Holdings has sold it’s 58% stake in MV Agusta Spa to an Italian company Gevi Spa for a token sum of 1 Euro (RM4.48). Gevi Spa will assume MV Agusta’s debts and working capital requirements totalling 139.44 million euros. According to Proton, it was part of it’s non-core asset divesting exercise. Proton originally acquired MV Agusta Spa a year ago, on 7 July 2004, for 70 million Euro (RM364 million).

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