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UltraTech Cem. 7721.85↑100.10(1.31%)
UPL 688.10↑12.30(1.82%)
Wipro 401.70↑7.60(1.93%)

Bajaj Auto swaps stake in KTM to get a share in Pierer Mobility

PMAG ups stake in KTM AG from 51.7% to 98.2%; Bajaj Auto becomes indirect partner in all PMAG brands

Premium

According to reports, KTM’s domestic sales stood at 4,389 units in August 2021, down 38 per cent compared to 7,116 units in August 2020

3 min read Last Updated : Oct 01 2021 | 1:50 AM IST

Bajaj Auto and Pierer Industrie, its partner in KTM AG, on Wednesday announced that they have finalised a plan to simplify shareholding in premium bike maker KTM through a share swap deal. Following this, Bajaj will become an indirect stakeholder in other brands of the Austrian partner — including Husqvarna, GasGas, and Ramon. Earlier, Bajaj Auto and Pierer Mobility AG (PMAG) held around 48 per cent and 52 per cent, respectively, in KTM AG. Bajaj’s shareholding was through its Netherlands-based subsidiary Bajaj Auto International Holdings BV (Baibhv).