Piaggio Acquires Derbi

BARCELONA, Spain (24 January) - The rumors have finally been confirmed that Spanish motorcycle manufacturer Derbi headquartered in Martorelles (Barcelona), has reached an agreement of integration with the Italian Piaggio Group. The goal of the integration between the two companies is industrial and commercial synergy. The technical aspects of the merger will be developed during the coming months and it is expected that Piaggio will get 100% of Derbi-Nacional Motor SA's shares, and that the current Derbi shareholders will get Piaggio. The current owners of Derbi will get a representative in the Council of Administration of Piaggio, and Andreu Rabasa Palet will remain as Derbi President. Derbi has a strong reputation in small capacity scooters and motorcycles. It has one of the leading race teams in the 125 World Motorcycle Championship. In the past, Derbi has won numerous victories in the 50 cc motorcycle class. Becoming part of the Piaggio group will reinforce the Spanish brands' competitiveness and market reach. All four brands of the two companies: Piaggio, Vespa, Gilera and Derbi, will maintain their own identity. Derbi was founded in 1922 by D. Simeon Rabasa. At the moment, ownership of the company is shared by Mercapital, the Rabasa family and Axis Participaciones Empresariales. Derbi is European leader of gearbox 50 cc motorcycles. The 2000 sales (comprising scooters, automatic mopeds and 50 cc gearbox motorcycles) were 60.000 units with a total turnover of ESP 16 billion (US$90mn;EUR96mn).(JCO)