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Harley-Davidson Completes Sale Of MV Agusta

Motorcycle maker said Friday it finished its sale of MV Agusta to Claudio Castiglioni, the Italian motorcycle company's former owner.

MILWAUKEE (AP) -- Harley-Davidson Inc. said Friday it finished its sale of Italian motorcycle maker MV Agusta to Claudio Castiglioni.

Castiglioni is the company's former owner and had served as MV Agusta's chairman since Harley-Davidson purchased it in 2008. Harley-Davidson has been focused on cutting costs and streamlining its business. It said last October it planned to sell MV Agusta.

Harley-Davidson shares fell 3.7 percent, or $1.07, to $27.54 in Friday afternoon trading, while the broader Standard & Poor's 500 index was down about 1.5 percent.