Ferrari looks to buy luxury brands outside car sector; MV Agusta possible target – Carlo Festa Blog
Ferrari [BIT:RACE], the Italian luxury car group, is looking to buy luxury brands outside the automobile sector, the Italian language Carlo Festa blog reported. The unsourced report said that Ferrari wants to make considered buys but, because of the lack of targets in the car sector, is looking at luxury brands in other parts of the market.
The report said that the luxury yacht and motorcycle sectors was likely to be one of the areas where Ferrari will seek targets. The report said that motorcycle manufacturer MV Agusta could be a possible target, given the clash presently taking place between MV Agusta's majority shareholder the Castiglioni family and its minority shareholder Daimler.
The report said that Ferrari would need to sound out Sergio Marchionne, the CEO of Ferrari's parent FCA, as he known to be unenthusiastic about the motorcycle sector.
Previous reports have claimed that MV Agusta is looking to carry out a EUR 30m capital increase.