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
0 comments:
Post a Comment