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Bajaj Auto Eyes Full KTM Takeover With Call Option Deal, Stefan Pierer To Exit

The “call option” is aimed at buying out stakes held by Pierer Group companies in the complex holding structure for KTM. That would end Stefan Pierer’s three-decade long association with KTM.

Tushar Deep Singh

Bajaj Auto has outlined its intent to take control of the rebuilding of the KTM business by way of a rescue package worth €800 million. (Photo: Company)

Bajaj Auto International Holdings BV has put in motion a deal to buy out Pierer Group and take full control of KTM.

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“The execution of this call option agreement is therefore a critical step in Bajaj Auto BV assuming control of KTM and should be seen as a key step in realigning the governance to restore confidence among shareholders,” Bajaj Auto stated in the exchange filing.

“The full exercise of the options will mark the exit of the Pierer Group from KTM”, and set the stage for operational restructuring and create flexibility for potential partnerships.

On Friday, Bajaj Auto shares rose 0.05% to Rs 8,738 apiece on the BSE even as the benchmark Sensex ended the day 0.95% higher at 81,721.08 points.

Also Read: Bajaj Auto Arm Picks Up Another €100-Million Loan To Fund KTM Rescue

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Tushar Deep Singh
Tushar Deep Singh is a Mumbai-based business journalist reporting on India'... more
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