In a share swap deal, Indian motorcycle motorcycle maker Bajaj Auto has transferred its 46.5% share of Austrian motorcycle manufacturer KTM to parent company Pierer Mobility AG. This gives Pierer Mobility a 98.2% share in KTM from the previous 52% Pierer/48% Bajaj Auto split reports carandbike.com.
In return, Bajaj Auto, via Netherland’s based subsidiary Bajaj Auto International Holdings, gains a 49.9% share of PTW Holding, the majority shareholder of Pierer Mobility AG. The first phase of the transfer is complete, with the KTM shares under Bajaj control transferred as of today.
“In a second step PTW Holding will contribute the 46.5% stake in KTMAG to PMAG in exchange for 11,257,861 fresh shares in PMAG. This step approved by PMAG’s Management Board today is targeted for implementation before end of October 2021 on approval of the PMAG Supervisory Board,” as detailed in a press statement.
This share ownership transfer allows Bajaj to access other brands under the PTW Holding umbrella which includes Husqvarna, GasGas and Ramon. In India, Bajaj Auto builds both the KTM and Husqvarna brands at its Maharashtra facility while KTM has had a presence on the sub-continent since 2007.
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