Bajaj Auto Ltd on Wednesday announced the completion of acquisition of a majority stake in Austrian bike maker KTM following receipt of necessary approvals from European regulators for its 800-million euro transaction.
The company has also changed the name of Pierer Bajaj AG (PBAG) to Bajaj Auto International Holdings AG and PIERER Mobility AG (PMAG) — the holding company of KTM AG, the shares of which are listed on SIX Swiss Exchange in Zurich and Vienna Stock Exchange — to Bajaj Mobility AG, Bajaj Auto said in a regulatory filing.
Earlier this month the company had stated that out of nine regulatory approvals it had received eight and on November 10, it had received notification from the European Commission for the same.
In May this year, Bajaj Auto announced its intention to acquire a majority stake in KTM through its wholly-owned subsidiary Bajaj Auto International Holdings BV, which has arranged a debt funding package of 800 million euro (about Rs 7,765 crore), to shift gear​Bajaj Auto Ltd on Wednesday announced the completion of acquisition of a majority stake in Austrian bike maker KTM following receipt of necessary approvals from European regulators for its 800-million euro transaction.
The company has also changed the name of Pierer Bajaj AG (PBAG) to Bajaj Auto International Holdings AG and PIERER Mobility AG (PMAG) — the holding company of KTM AG, the shares of which are listed on SIX Swiss Exchange in Zurich and Vienna Stock Exchange — to Bajaj Mobility AG, Bajaj Auto said in a regulatory filing.
Earlier this month the company had stated that out of nine regulatory approvals it had received eight and on November 10, it had received notification from the European Commission for the same.
In May this year, Bajaj Auto announced its intention to acquire a majority stake in KTM through its wholly-owned subsidiary Bajaj Auto International Holdings BV, which has arranged a debt funding package of 800 million euro (about Rs 7,765 crore), to shift gear ​Latest News [ SOBAN NEWS: International and National ]
