In latest reports about the possible sale of the Ducati brand to settle the dues of the dieselgate fiasco, Reuters suggests that Volkswagen’s plan has come to a standstill. The latest report suggests that the German Brand’s plan to sell Ducati and transmissions maker Renk does not have sufficient backing from the supervisory board.
The report also adds that Volkswagen’s labour leaders, who occupy half the seats on the supervisory board, have resisted the sale of the Italian two-wheeler brand, along with Renk. The sale of Ducati, which is currently owned by Volkswagen luxury car brand Audi, needs an approval from the supervisory board.
Spokesman for VW group’s works council told Reuters, “The employee representatives on Volkswagen’s supervisory board will neither approve a sale of Ducati, nor one of Renk or MAN Diesel & Turbo. Everyone who can read the VW half-year results should know: We don’t need money and our subsidiaries are not up for grabs by bargain hunters.”
Meanwhile, five bidders who have been shortlisted to buy Ducati will be given access to the company’s books after the summer. With Audi’s executives away for the summer break, the final decision about the possible sale will only be taken after September or October. As you must’ve read previously, KTM (and Bajaj), Royal Enfield, Hero MotoCorp and Harley-Davidson were reportedly bidding to buy the luxury Italian two-wheeler brand from Audi.
Via Reuters