Kymco has entered into a historic agreement with Harley-Davidson and together the two leading manufacturers will work together to create a full range of Livewire electric motorcycles!
The agreement was signed a few days ago and can only be described as a historic event. The two plants, in partnership with the financial institution AEA-Bridges Impact Corp (ABIC), have announced that they have entered into a definitive business combination agreement to develop a new publicly traded company, namely LiveWire, H-D’s electric motorcycle division.
The common stock will be listed on the New York Stock Exchange under the symbol “LVW” in the first half of 2022. LiveWire plans to redefine the bike as the industry’s leading company of exclusively electric motorcycles.
The transaction will be funded by ABIC with $400 million, with Kymco and H-D investing from $100 million each through PIPE (private equity).
The consolidated company is expected to have a corporate value of about $1.77 billion and an equity value after funding about $2.31 billion.
Jochen Zeitz, President and CEO of Harley-Davidson, will lead the new scheme and will also act as Deputy CEO of LiveWire for up to two years after the transaction is completed.
Video from YouTube channel LiveWire EV