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Bajaj will invest Rs 1,362 crore in the Auto company to protect the Austrian bike manufacturer KTM from insolvency. The company has given this information in the exchange filing. Bajaj Auto is the co-owner of KTM.
According to exchange filing, Bajaj Auto is set to invest 150 million euros in its subsidiary Bajaj Auto International Holdings BV. Bajaj Auto International Holdings holds 49.9% stake in KTM struggling with insolvency.
The company said in the filing, ‘We want to inform investors that the Board of Directors have approved to invest up to 150 million euros in one or more installments in Bajaj Auto International Holdings BV in their meeting held on 21 February 2025. ‘
KTM date restructuring process will end on February 25
This investment will be made by equity/preference share/debt or any other means. The way of investment can be decided over time. KTM’s date restructuring process ends on 25 February. On 13 November 2024, Pierler Mobility announced the reorganization and additional liquidity needs at the KTM AG.
Pierler Mobility wrote on its website, ‘The board is currently working on securing the finance of KTM-AG. For this, discussions are going on with both the main shareholder Pearler Bajaj AG and the current financial creditors. Its purpose is to agree on financial restructuring. ‘
Pierler is a joint venture of Bajaj AG, Bajaj Auto International Holdings BV and Pieror Industry AG. It has a 74.9% stake in the Pearler Mobility AG, which has motorcycle brands such as KTM, Gasgas, Huskavarna and CFMOT in China. Pierler Mobility applied for bankruptcy on 29 November 2024.
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