The full statement from Audi announcing its acquisition of Ducati can be seen below.
No price is given, but previous reports from the financial media suggested Audi would pay 'around' 860 million euros ($1.12 billion).
The cash-rich VW Group already owns car brands Audi, Lamborghini, Skoda, Seat, Bentley and Bugatti, plus the MAN and Scania truck brands...
'AUDI AG is acquiring from Investindustrial Group the tradition-steeped Italian sports motorcycle manufacturer Ducati Motor Holding S.p.A., which has its registered office in Bologna. The transaction will be completed as quickly as possible once authorized by the competition authorities.
'The Supervisory Boards of AUDI AG and Volkswagen AG approved the acquisition today in Hamburg. Ducati is known worldwide as a leading brand in motorcycle manufacture, with outstanding expertise in engine development and lightweight construction.
'Alongside the traditional Italian brands Lamborghini and Italdesign, Ducati is now a third pillar for AUDI AG in Northern Italy. Another building block in the Company's growth strategy thus falls into place.
'Rupert Stadler, Chairman of the Board of Management of AUDI AG, declared: “Ducati is known worldwide as a premium brand among motorcycle manufacturers and has a long tradition of building sporty motorcycles. It has great expertise in high-performance engines and lightweight construction, and is one of the world's most profitable motorcycle manufacturers. That makes Ducati an excellent fit for Audi.”
'The progressive control systems and special combustion chamber process of Ducati engines, their resulting sporty character, and Ducati's extensive know-how in lightweight construction thus offer great potential for AUDI AG and the Volkswagen Group.
'Peter Mosch, Chairman of the General Works Council of AUDI AG, explains that the employee representatives of AUDI AG support the Company's sustainable, codetermined growth strategy.
'“We must use the opportunities offered by globalization for Audi – and that's exactly what we're doing. Everyone at Audi is looking forward to working with our new colleagues from Ducati,” commented Mosch.