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    Monday, July 26, 2021

    PIERER Mobility AG: Simplification of the shareholding structure with Bajaj

    Pierer and Bajaj start simplifying Bajaj’s participation at PIERER Mobility level, as announced

    INDIA: PIERER Mobility AG was informed by Pierer Industries AG and PTW Holding AG that an agreement in
    principle had been reached with Bajaj Auto Ltd. (India) and its wholly owned subsidiary Bajaj Auto
    International Holdings BV (Netherlands, “BAIHBV”), together referred as “Bajaj”, to contribute BAIHBV’s
    46.5% stake in KTM AG to PIERER Mobility AG.

    As a next step, Pierer and Bajaj will now initiate competition and takeover law consultations with the
    relevant authorities as well as the necessary valuations; PIERER Mobility AG, for its part, will go ahead
    with preparations under capital market law. Depending on the outcome of the valuation process, the
    opinion of the Austrian Takeover Commission and the transaction negotiations as well as the clearance
    by the competition authorities, PIERER Mobility AG will carry out a capital increase through contribution
    in kind from the existing authorized capital of the company under exclusion of subscription rights by up
    to 50% of the existing share capital.

    After completion of the transaction, the shareholding of PIERER Mobility AG in the operating KTM AG
    will increase from currently about 51.7% to about 98.2%. The Pierer Group will continue to maintain sole
    control over PIERER Mobility AG



    source https://nrinews24x7.com/pierer-mobility-ag-simplification-of-the-shareholding-structure-with-bajaj/?utm_source=rss&utm_medium=rss&utm_campaign=pierer-mobility-ag-simplification-of-the-shareholding-structure-with-bajaj
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