Bajaj Auto raises stake in KTM Power Sports to 47%; has been consistently increasing stake
MUMBAI: Bajaj Auto, India's second-largest two-wheeler maker, has tightened its hold on KTM POWER SPORT by buying another 6.3%, taking it stake in the Austrian motorcycle to a little over 47%.
ET learnt that the company purchased this stake from one of the key stake holders through an open market transaction recently. The purchase was made through Bajaj Auto International Holdings, a Netherlands-based wholly-owned subsidiary of Bajaj Auto.
A senior Bajaj official confirmed the development, but declined to share the details, as the firm is bound by confidentiality agreement.
Bajaj Auto is the second-largest shareholder in KTM. Other large shareholders-Stefan Pierer and Rudolf Knuenz-hold more than 51% stake. Bajaj Auto and KTM are working on a few joint development projects.
Posted By- Nitesh Kumar Singh
PGDM 2nd SEM
ET learnt that the company purchased this stake from one of the key stake holders through an open market transaction recently. The purchase was made through Bajaj Auto International Holdings, a Netherlands-based wholly-owned subsidiary of Bajaj Auto.
A senior Bajaj official confirmed the development, but declined to share the details, as the firm is bound by confidentiality agreement.
Bajaj Auto is the second-largest shareholder in KTM. Other large shareholders-Stefan Pierer and Rudolf Knuenz-hold more than 51% stake. Bajaj Auto and KTM are working on a few joint development projects.
Posted By- Nitesh Kumar Singh
PGDM 2nd SEM
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