Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusiness

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

"Pierer Industrie AG and Bajaj will now evaluate the proposals in detail. The transaction decision is targeted to be made in the second quarter of 2019," Bajaj Auto said in a regulatory filing on Thursday.

March 21, 2019 / 02:59 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Bajaj Auto and Austria's Pierer Industrie AG have started discussions to assess the possibility of transferring Bajaj's 48 percent stake in KTM AG to KTM Industries AG, with the Pierer-Group continuing to retain the controlling majority over KTM Industries AG.

"Pierer Industrie AG and Bajaj will now evaluate the proposals in detail. The transaction decision is targeted to be made in the second quarter of 2019," Bajaj Auto said in a regulatory filing on Thursday.

At present, Pierer Industrie AG holds approximately 62 percent of the shares of KTM Industries AG. The listed company KTM Industries AG holds approximately 51.7 percent of the shares of KTM AG.

"If Pierer Industrie AG and Bajaj decide to execute the transaction, KTM Industries AG will examine the legal and economic requirements and conditions of a capital increase by contribution in kind from the existing authorised capital of the company. The authorised capital enables a capital increase of up to 50 percent of the existing share capital," the filing added.

Bajaj Auto said if the transaction is executed, KTM Industries AG's stake in KTM AG would increase from current 51.7 percent to approximately 99.7 percent.

PTI
first published: Mar 21, 2019 02:52 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347