More smoke and mirrors or a quick balance sheet adjustment to boost the CEO’s retirement package? Let the conspiracy theories begin! According to a by-lined Bloomberg blurb, The Motor Company could be considering selling HDFS. However, the cryptic lack of facts, an unnamed adviser, citing “sources familiar with the matter,” etc. smacks of clickbait. So much so that an unnamed Harley source has declined to comment on “the people’s” assertions:
“…the people, who asked to not be identified because the information isn’t public. The business could appeal to potential buyers including regional banks, private equity firms and private credit players, the people added… Harley-Davidson hasn’t made a final decision on pursuing a sale of the unit and could opt to keep it, the people said. A representative for the Milwaukee-based company declined to comment.”
“Harley-Davidson (NYSE:HOG) is evaluating options for its financing unit, including a sale, which could see at least $1 billion. Shares of Harley-Davidson rose 2.1% in after-hours trading.
The motorcycle maker is using an adviser to garner interest for Harley-Davidson Financial Services, according to a Bloomberg report on Thursday, which cited people familiar with the matter. The financing arm may be attractive to regional banks, private equity shops and private credit firms.
Harley-Davidson (NYSE:HOG) hasn’t made a final determination on the business and may decide to retain it, according to the report. The company declined to comment to Bloomberg.
A potential sale comes as Harley-Davidson (NYSE:HOG) announced on Tuesday that CEO Jochen Zeitz plans to step down after five years in the position. Shares of the motorcycle maker have dropped 48% over the past year.”
