Bajaj Auto Ltd: Completes Euro 800 Million Majority Stake Acquisition in KTM, Becomes Global Owner

Overview

Bajaj Auto Ltd. announced the completion of its acquisition of a majority stake in Austrian bike maker KTM, following European regulatory approvals for the 800 million euro transaction. The company renamed its holding entity Pierer Bajaj AG to Bajaj Auto International Holdings AG and KTM's holding company, PIERER Mobility AG, to Bajaj Mobility AG. Bajaj Auto now holds 100% of PBAG, which in turn holds 74.9% in PMAG/KTM, making KTM a step-down subsidiary.