Bajaj Auto Swaps Stake To Get Share In KTM Holding Company

Bajaj Auto and Pierer Industrie AG finalised a stake swap deal with PTW Holding to simplify the shareholding pattern in the Austrian bikemaker KTM AG.

New Delhi: Bajaj Auto and Pierer Industrie AG on Wednesday finalised a stake swap deal with PTW Holding to simplify the shareholding pattern in the Austrian bikemaker KTM AG. "Under the new agreement, Bajaj Auto International Holdings BV (BAIHBV) swapped 46.5% (out of its 48%) stake currently held in KTM AG to PTW Holding AG," Bajaj Auto said in a notification to exchanges.

In return, BAIHBV has been granted a 49.9% stake in PTW Holding AG and became an equity holder along with Pierer lndustrie in PTW Holding, the two-wheeler manufacturer added.

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

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