announced on July 26, 2021, the Bajaj Group and the Austrian Pierer Group have
simplified the shareholding structure in the operating KTM AG. Bajaj Auto Ltd.
and its subsidiary Bajaj Auto International Holdings B.V. (Netherlands,
"BAIHBV") and the Pierer Group have signed the corresponding
HERE TO READ: BAJAJ AUTO TO GAIN POST SIMPLIFIED EQUITY STRUCTURE IN PIERER
In a first step, BAIHBV has contributed
46.5% out of its approx. 48% shares currently held in KTM AG to PTW Holding AG
(the majority shareholder of PIERER Mobility AG), owned by the Pierer Group. In
return, BAIHBV has been granted a 49.9% stake in PTW Holding AG.
In a second step, the 46.5% KTM shares
now held by PTW Holding AG will be contributed to PIERER Mobility AG against
the granting of new shares in the context of a capital increase through
kind. To this end, the Management Board of PIERER Mobility AG has resolved to
execute a capital increase against contribution in kind in the total amount of
EUR 895 million., corresponding to 49.9% the the existing share capital, by
making use of the authorised capital.
this context 11,257,861 shares will be issued at an issue price of EUR 79.50
per share, which is higher than the current stock market price. The capital
increase will be carried out exclusively against contribution in kind of KTM share
by PTW Holding AG and under exclusion of subscription rights of the other
shareholders. The capital increase will be executed, subject to the approval of
the supervisory board, in the second half of October 2021.
the execution of this transaction, the shareholding of PIERER Mobility AG in
the operating KTM AG will increase from currently around 51.7% to around 98.2%.
The Pierer Group will continue to
sole control over PIERER Mobility AG.
BorgWarner has clinched an agreement with a major North American OEM to supply its bi-directional 800V Onboard Charger (OBC) for the automaker’s premium passenger vehicle battery electric vehicle (BEV...
Uno Minda, a leading tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs), has unveiled an innovative range of side stand sensors and switches that use advanc...
As the adoption of electric vehicles (EVs) continues to grow, Honeywell has created innovative solutions to address safety concerns across the spectrum of EV manufacturing and use.