Bajaj Auto swaps stake in KTM to get stake in Peerer Mobility

Bajaj Auto swaps stake in KTM to get stake in Peerer Mobility

Bajaj Auto and its partner in KTM AG, Peerer Industry, announced on Wednesday that they have simplified shareholding in premium bike maker KTM through a share swap deal, after which Bajaj will become an indirect stakeholder in the Austrian partner’s other brands – including Husqvarna. also includes. Gas gas and ramen.

Prior to the current deal, Bajaj Auto and Peer Mobility AG (PMAG) held 48 per cent and 52 per cent stake in KTM AG, respectively. Bajaj’s stake was through its Netherlands-based subsidiary Bajaj Auto International Holdings BV (Baibhav). As part of the two-stage deal, Bajaj Auto has transferred 46.5 per cent of the total stake in KTM to PTW Holding AG, a majority shareholder in PMAG. In lieu of this, Baibhav has been given a 49.9 per cent stake in PTW Holding AG.

“In the second phase, 46.5 per cent of KTM shares held by PTW Holding AG will now be contributed as contribution to Peer Mobility AG (PMAG) against grant of new shares in terms of capital enhancement by way of contribution,” the company said. in a statement. After the completion of this deal, PMAG’s stake in KTM AG has increased from 51.7 per cent to about 98.2 per cent. The Peerer Group will retain sole control over the PMAG. On Wednesday, all the parties concerned have signed an agreement in this regard.

The Management Board of PMAG has resolved on Wednesday to execute the capital increase against a contribution in the aggregate amount of Euro 895 million (million in German), corresponding to 49.9 percent of the existing share capital, by using the authorized capital. . In this context, 11,257,861 shares will be issued at an issue price of EUR 79.50 per share, which is higher than the current share market price.

“Capital augmentation will be done exclusively against contribution to KTM shares by PTW Holding AG and subject to exclusion of membership rights of other shareholders. The capital increase will be implemented in the second half of October subject to the approval of the supervisory board,” the statement said.

Though the talks were started long back in 2019, it was put on hold later. However, in December 2020, Bajaj Auto has informed the exchanges that it has resumed talks with KTM’s parent Peer Mobility AG (PMAG) to swap its stake in KTM for a stake in PMAG. .

PMAG is one of the top motorcycle manufacturers in the premium segment with brands like KTM, Husqvarna and GasGas. The Austrian company is listed on exchanges in Vienna, Zurich and Frankfurt.

The tie-up between Bajaj Auto and KTM dates back to 2012, when it entered the Indian market through the launch of the 200 Duke. Currently, its product portfolio comprises around 11 products including the 390 Duke, RC 200 and RC 390. In addition, its product range includes motorbikes starting from 125 cc to 390 cc – which includes Sports, Street Naked, Adventures and Racing. .

As per reports, the domestic sales of KTM stood at 4,389 units in August 2021, down 38 per cent as compared to 7,116 units in August 2020, mainly on market anticipation that the company is expected to come up with its new RC range in the country. Is.

KTM and Husqvarna reportedly plan to enter the electric vehicle segment in India. It had already showcased an electric scooter (Vector) and an electric motorcycle (E-Pylane) at an international motor show in Munich.

                                                    </div><div style="background: #fee8dd; padding: 12px; border: dashed 1px black; margin-bottom: 20px;">

mail Dear reader,

Business Standard has always worked hard to provide updated information and commentary on events that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even during these difficult times arising out of COVID-19, we are committed to keeping you informed and updated with relevant news, authoritative views and sharp comments on relevant relevant issues.
However, we have a request.

As we grapple with the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. Subscribing to more of our online content can only help us achieve our goals of providing you with better and more relevant content. We believe in independent, unbiased and credible journalism. Your support through more subscriptions can help us practice the journalism we’re committed to.

support quality journalism and Subscribe to Business Standard.

digital editor



this is an unedited and auto-generated supporting article of the syndicated news feed are actualy credit for owners of origin centers. intended only to inform and update you about Sakari naukri , result , UPSC , Exam Jobs etc. for Provides real or authentic news. also Original content may not have been modified or edited by nixatube team members.

Leave a Reply