Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM
22nd Mar 2019

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.

The transaction decision is targeted to be made in the second quarter of 2019. 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.

Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.