US EditionBajaj Auto completes majority acquisition of KTM after regulatory nod
- Bajaj Auto Ltd has completed the acquisition of a majority stake in KTM after securing necessary regulatory approvals for the €800 million transaction.
- Bajaj Auto now holds a 74.9% stake in Pierer Mobility AG , which was previously held at 49.9% in Pierer Bajaj AG , now renamed Bajaj Auto International Holdings AG.
- Stefan Pierer, the former majority owner, will step down as CEO of PMAG and KTM, allowing Bajaj operatives to take over management roles within the companies involved.
- Bajaj Auto plans to maintain production at KTM's primary plant in Austria while exploring cost efficiencies without impacting its identity as an Austrian motorcycle manufacturer.
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15 Articles
In spring, the Indian vehicle company secured the survival of the KTM with a financial injection. In addition, the company's headquarters are moving to Mattighofen
Times of India
The Economic TimesBajaj Auto completes majority acquisition of KTM after regulatory nod
Bajaj Auto has finalized its acquisition of a majority stake in Austrian motorcycle maker KTM AG. The Indian automaker secured final approval from European regulators for the €800-million deal. This development marks the completion of all transaction formalities. Bajaj Auto now holds a controlling stake in KTM, with significant changes to the company structures of KTM and its holding entities.
After the Takeover Commission and the EU Commission had given the green light, this call option was now exercised.
Bajaj Auto takes full control of KTM after €800-million deal clears EU approval
New Delhi: Bajaj Auto Ltd has officially taken majority control of Austrian bike maker KTM AG after getting the last approval from European authorities for its €800-million deal. The company shared this update in a regulatory filing on Wednesday, confirming that all steps and paperwork for the takeover are now complete. Further, Bajaj Auto said, ” This has also consummated the acquisition of the sole controlling stake by the company through its …
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