Bajaj Auto to acquire majority stake in KTM with €600 mn fresh infusion

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Bajaj Auto to acquire majority stake in KTM with €600 mn fresh infusion - Business Standard

Quick Summary:

Bajaj, through BAIHBV, has taken over the commitment under these agreements from Dabepo, to prevent the threatened foreclosure of this loan, which could impede the planned restructuring and ramp-up of the KTM business.1.

Bajaj effectively holds a 37.5 per cent stake in PMAG/KTM through the above chain, prior to this transaction.“Bajaj Auto intends to acquire a sole controlling stake in PBAG.

Through this, the Indian major will be acquiring a majority stake in Pierer Bajaj AG (PBAG), which indirectly owns KTM through Pierer Mobility AG (PMAG).BAIHBV holds a 49.9 per cent stake in Pierer Bajaj AG (PBAG) in Austria.