Global Statistics

All countries
229,034,014
Confirmed
Updated on 19/09/2021 12:50 pm
All countries
203,933,405
Recovered
Updated on 19/09/2021 12:50 pm
All countries
4,702,137
Deaths
Updated on 19/09/2021 12:50 pm

Global Statistics

All countries
229,034,014
Confirmed
Updated on 19/09/2021 12:50 pm
All countries
203,933,405
Recovered
Updated on 19/09/2021 12:50 pm
All countries
4,702,137
Deaths
Updated on 19/09/2021 12:50 pm

Bajaj Auto Announces a Change in KTM’s Participation Pattern with Pierer Industrie AG – See How This Affected the Stock Price

In an apparent change in the pattern of participation in KTM, Bajaj Auto said on Monday that the company has reached an agreement with its Austrian partner Pierer Industrie AG to simplify its participation in the premium bicycle manufacturer KTM through a transfer in two steps from your holdings to a new holding company.

According to Bajaj Auto’s presentation to the exchanges, the two-wheeler said: “Currently, PIERER Mobility AG PMAG and Bajaj Auto International Holdings BV (BAIHBV) own approximately 51.7 and 48 percent of KTM-AG. respectively.

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In addition to the previous stake in KTMAG, PMAG owns: 100 percent in Pierer E-Bikes, the manufacturer of conventional and electric bicycles, under the Ramon, Husqvarna and Gas Gas brands, and a 50 percent stake in Kiska GmbH, a Top-notch Design with marketing organization and involvement in a few other small businesses in the IT and digital marketing areas, Bajaj Auto said.

Pierer Industrie AG owns more than 65.29% of PMAG.

Under the modified participation agreement, BAIHBV will exchange 46.5 percent of its 48 percent stake in KTM AG, for a stake in PlW Holding, a 100 percent subsidiary of Pierer lndustrie, said the larger two-wheeler in a regulatory document. .

As a second step, PlW Holding will later contribute its 46.5 percent stake in KTM AG to PMAG, for PMAG to issue new shares in its place.

“After completing both steps, Pierer Industrie and BAIHBV will be interested parties in PlWHolding, with PMAG as its listed subsidiary,” he added. Subsequently, PMAG’s stake in KTM AG would increase to 98.2 percent.

Bajaj Auto said that its Board of Directors gave its approval in principle to this proposal. “The BAIHBV Board at its July 26 meeting considered the proposal and also took note of the approval in principle from its shareholders,” the document reads.

In addition, he said: “The parties will now process the necessary authorizations from the competition, take control and other authorities as necessary and, depending on the outcome of the authorizations of the interested authorities and the negotiations / valuations of the transaction, will undertake the following Steps”.

Bajaj Auto shares are trading unchanged with marginal growth of 0.3 percent to Rs 3848 per share on the BSE around 12:11 pm, compared to a 0.03 percent drop on the S&P BSE. Sensex on Tuesday.

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