Volkswagen unit Audi is in talks to buy Italian motorcycle maker Ducati, sources familiar with the matter told reporters on Tuesday, March 13, The Economic Times reported.

Audi is in advance talks with Investindustrial, the Italian private equity owner of Ducati, a source familiar with the talks said.

Another source confirmed that Audi and Ducati's owners are in talks.

Audi is conducting due diligence and a decision about a purchase is expected by mid April, one of these sources said.

Volkswagen, Audi and Ducati's owners declined comment. Earlier this month Investindustrial said it was looking for a "world class industrial partner" for Ducati.

VW Chairman Ferdinand Piech, who said he drives Ducatis himself, admitted a few years ago that he regretted not having acquired the brand back then when Ducati could have been bought "for peanuts".