Bajaj Auto swaps its KTM AG holding for shares in Pierer Mobility
- ByManjeet Singh | September 30, 2021
Bajaj Auto and its partner in Austrian bikemaker KTM AG, Pierer Industrie, have announced a stake swap deal with PTW Holding in order to simplify the shareholding structure. Bajaj Auto is now indirectly a shareholder in KTM, along with Gas Gas, Husqvarna, and Ramon of the Austrian partner.
Pierer Mobility AG (PMAG) and Bajaj Auto used to hold about equal shares prior to the current deal. The Pune-based two-wheeler manufacturer had a stake of 48 and 52 percent in KTM AG, through its Netherlands-based subsidiary Bajaj Auto International Holdings BV (Baibhv).
A two-step agreement has led to BAIHBV contributing 46.5% of its KTM AG shares to PIERER Mobility AG, owned by the Pierer Group, in exchange for a 49.9% stake in PIERER Holding AG.
“The 46.5% of KTM shares that PTW Holding AG currently holds will be transferred to PIERER Mobility AG as part of a capital increase through contributions in kind,” the company said in a statement.
PMAG’s shareholding in KTM AG has increased from 51.7% to approximately 98.2% after the transaction was completed. PMAG will remain under the control of the Pierer Group. The related parties signed a contract in this regard on Wednesday, September 29.
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