Euro 70 Million vs Euro 1 -How much Agusta worth?

My eyes almost popped out when I read the news of harley davison to buy Motorcycle maker Agusta for Euro 70 million.....

Proton has previously sold Augusta at Euro 1 after buying it for RM368 million.

Should we send Proton's management to attend Finance 101 course ? Proton management owe us an answer.........Are we saying that ang mor is better than us in mathemathic or Proton management is actually managed by a bunch of idiot?

Harley-Davidson to buy motorcycle maker Agusta

PETALING JAYA: Harley-Davidson Inc has signed an agreement to purchase Italian motorcycle maker MV Agusta Group.

The heavyweight motorcycle manufacturer said under the agreement, the company would acquire 100% of Agusta shares for about 70 million euros, which includes the satisfaction of an existing bank debt for around 45 million euros.

“The agreement also provides for a contingent payment to (Agusta chairman) Claudio Castiglioni in 2016, if certain financial targets are met,” the company said in a statement posted on its website.

Agusta is privately held, with the Castiglioni family owning 95% of shares.

Proton Holdings Bhd once held 57.75% equity in MV Augusta Motors SpA, which it purchased for 70 million euros in December 2004. It subsequently divested the stake to GEVI SpA for one euro in March 2006.

The sale, which drew strong criticism from the local carmaker’s then top management who had negotiated the MV Agusta stake purchase, helped Proton to write off the unit’s losses from its accounts.

Agusta has significantly slowed production in 2008 due to financial difficulties. Harley-Davidson chief executive officer Jim Ziemer said the acquisition was primarily to expand Harley-Davidson’s presence and footprint in Europe.

Retail sales of Harley-Davidson motorcycles have grown double-digit in Europe in each of the last three years, following company’s increased strategic focus on global markets.

“Following closing, the first priority will be to appoint a leadership team to include a new managing director and to resume the manufacture of current models,” the statement said, adding that Claudio Castiglioni would continue his role as Agusta chairman.