Paolo Berlusconi buys Moto Morini

Added on Wednesday, April 14th, 2010 by Carole Nash Editor | No Comments

Italian manufacturer Moto Morini has been rescued thanks to a €2.5million deal led by Paolo Berlusconi, brother of Italian Prime Minister Silvio.

After declaring itself bankrupt in September 2009, a process that allows businesses up to six months grace from paying debt demands, Berlusconi has moved in to rescue the Bologna based manufactur from collapse.

Since announcing bankruptcy last summer, the manufacturer has made a series of cut backs, including making bikes to order and working to shift a backlog of unsold stock.

Berlusconi already has a biking background, also owning Garelli, and has been linked with the potential purchase of MV Agusta, which is currently being marketed by current owners Harley-Davidson. Berlusconi’s investment means that he will take ownership of the Morini factory, equipment plus all the rights to the bikes and designs.

Italian publication Motociclismo has reported that a new business plan will be in place and revealed in time for this year’s EICMA show in Milan this November.

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