US EditionKTM Co-Owner Bajaj Auto Signs €566m Loan Before Funding Deadline
- Bajaj Auto’s fully owned European subsidiary secured a €566 million loan this week to assist with financial measures involving KTM AG in Austria.
- This loan follows KTM's November 2024 bankruptcy caused by heavy debt from MV Agusta acquisition and MotoGP investments amid declining European demand.
- Bajaj Auto holds a 49.9% stake in the Pierer Bajaj joint venture which controls KTM's parent, and has invested over €200 million since KTM's financial troubles began.
- Bajaj stated its subsidiary is in negotiations and exploring alternatives to participate in KTM's restructuring under a creditor-approved plan requiring €548 million by May 23.
- The loan and ongoing talks suggest Bajaj aims to help avert KTM's liquidation, but it remains unclear if Bajaj will seek majority control or involve outside investors.
16 Articles
16 Articles
On Monday the creditors committee was convened. In the future the influence of the Indian co-owner Bajaj will probably be much stronger.
Bajaj Auto Says Netherlands-based Arm in Talks to Participate in KTM AG Restructuring
Get latest articles and stories on Latest News at LatestLY. Bajaj Auto Ltd on Monday said its Netherlands-based arm is in negotiations and exploring various alternatives to participate in the restructuring of KTM AG following a plan approved by the creditors of the Austrian bikemaker. Latest News | Bajaj Auto Says Netherlands-based Arm in Talks to Participate in KTM AG Restructuring.
MotoGP manufacturer KTM set to be saved by major shareholder amid financial struggles
MotoGP manufacturer KTM is set to receive financial backing from Bajaj Auto to help repay its debt, according to reports in India. KTM has been navigating its way through a major financial crisis with its debts exceeding €2 billion. Since last winter, the Austrian manufacturer forced it to layoff staff, pause production and reshape its board of directors in response to his financial situation. However, earlier this year, KTM won a major battle i…
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