Morgan has been sold to the Italians
Mar 5, 2019 19:28:39 GMT
Post by Deleted on Mar 5, 2019 19:28:39 GMT
Morgan sold
British sports car maker Morgan is to be sold to an Italian venture capitalist firm.
InvestIndustrial will take a majority stake for an undisclosed amount.
The Morgan family, which has owned the company for 110 years, will retain a minority shareholding, with the management team and staff also keeping a share of the business.
I seem to recall the TV programme with Sir John Harvey Jones who told Morgan to modernise and the then owner (son of the founder) refused. Then his son Charles had some falling out with his family I think and now the investors have arrived. From the waiting list of ten years it's now six months; you can wait longer for an Audi.
The balance has been lost and company sold. Shame, Britain's last wholly owned manufacturer is longer Bristish owned.
British sports car maker Morgan is to be sold to an Italian venture capitalist firm.
InvestIndustrial will take a majority stake for an undisclosed amount.
The Morgan family, which has owned the company for 110 years, will retain a minority shareholding, with the management team and staff also keeping a share of the business.
I seem to recall the TV programme with Sir John Harvey Jones who told Morgan to modernise and the then owner (son of the founder) refused. Then his son Charles had some falling out with his family I think and now the investors have arrived. From the waiting list of ten years it's now six months; you can wait longer for an Audi.
The balance has been lost and company sold. Shame, Britain's last wholly owned manufacturer is longer Bristish owned.
