July 19 (Bloomberg) -- Audi AG, the world’s second-biggest maker of luxury cars, completed the 860 million-euro ($1.06 billion) purchase of motorcycle maker Ducati Motor Holding SpA and named Chief Executive Officer Rupert Stadler to the board.
Audi Chief Financial Officer Axel Strotbek and executive Horst Glaser will also join the Italian manufacturer’s board after the transaction was completed today, Bologna-based Ducati said in an e-mailed statement.
Ducati, the maker of the Monster, Diavel and Superbike models, was acquired by Audi’s Lamborghini sports-car unit from Milan-based private-equity firm Investindustrial Advisors SpA. Deliveries last year totaled about 42,000 motorcycles, with revenue at 480 million euros. Ducati employs about 1,100 people.
Current Ducati managers “will stay on board and remain responsible for business operations,” Juergen De Graeve, a spokesman at Ingolstadt, Germany-based Audi, said earlier today.
Ducati CEO Gabriele Del Torchio will join Lamborghini’s board, the motorcycle maker said.
Audi is owned by Wolfsburg, Germany-based Volkswagen AG, Europe’s biggest carmaker. The division’s other assets in Italy include design and technology unit Italdesign, founded by Giorgetto Giugiaro, who sketched the first Volkswagen Golf model.
To contact the reporter on this story: Dorothee Tschampa in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Chad Thomas at email@example.com