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Bajaj Auto swaps stake to get stake in KTM Holding Company

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The Bajaj-KTM partnership started in 2012.

New Delhi: Bajaj Auto and Pierer Industrie AG on Wednesday finalized a stake swap deal with PTW Holding to simplify the shareholding pattern in Austrian bike maker KTM AG. “Under the new agreement, Bajaj Auto International Holdings BV (BAIHBV) has swapped presently 46.5% (out of its 48% stake) in KTM AG to PTW Holding AG,” Bajaj Auto said in a notification to the exchanges.

In return, BAIHBV has been given a 49.9% stake in PTW Holding AG and has become an equity holder with Peer Industries in PTW Holding, the two-wheeler maker said.

BAIHBV is a Netherlands based subsidiary of Bajaj Auto International Holdings BV.

PTW Holding AG is the majority shareholder of Peerer Mobility AG, which is owned by the Peerer Group.

“In the second phase, PTW Holding AG will now hold 46.5% of the KTM share in Peeror Mobility AG as a contribution against grant of fresh shares in terms of capital addition by way of contribution,” Bajaj Auto said.

“The capital augmentation shall be done exclusively against contribution to KTM shares by PTW Holding AG and subject to exclusion of membership rights of other shareholders. The capital enhancement shall be executed in the second half of October, subject to the approval of the supervisory board,” it said. mentioned in its notification.

Bajaj further said that after the execution of this transaction, the share of Peerer Mobility AG in operating KTM AG will increase to approximately 98.2% from around 51.7% at present. However, Peerer Group will retain sole control over Peer Mobility AG.

The Bajaj-KTM partnership began in 2012 when it entered the Indian market with the launch of the Duke 200.

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