New Delhi: Bajaj Auto Ltd has officially taken majority control of Austrian bike maker KTM AG after getting the last approval from European authorities for its €800-million deal. The company shared this update in a regulatory filing on Wednesday, confirming that all steps and paperwork for the takeover are now complete.
Further, Bajaj Auto said, ” This has also consummated the acquisition of the sole controlling stake by the company through its wholly owned subsidiary, viz., BAIH in PBAG and thereby acquisition of a controlling stake in PMAG and KTM.” BAIH will now hold 100 per cent of the total shareholding of PBAG, and through PBAG shall hold 74.9 per cent in PMAG/KTM, it added.
After the deal, the company and its units were reshaped
Bajaj Auto has reshaped the structure and names of the companies involved in its deal with KTM. After completing the major approvals, the company has changed the names of two key units. Pierer Bajaj AG (PBAG) is now called Bajaj Auto International Holdings AG, and Pierer Mobility AG (PMAG), which is KTM’s main holding company and is listed on the Zurich and Vienna stock exchanges, is now renamed Bajaj Mobility AG.
Bajaj BSE reference
Earlier this month, Bajaj Auto said it had received eight out of nine required regulatory clearances. On 10 November, the European Commission also gave its approval, clearing the way for the new structure.
“In view of the fulfilment of all the conditions precedent of the said Call Option Agreement, the transaction to acquire all 50,100 shares of PBAG by BAIH from PIAG has been completed on November 18, 2025,” Bajaj Auto said in a regulatory filing on Wednesday.
Ownership background
In May, Bajaj Auto announced that it wanted to take a majority stake in KTM. To do this, its fully owned arm, Bajaj Auto International Holdings BV (BAIHBV), secured a large debt funding of 800 million euros (around Rs 7,765 crore). The aim was to move from being a quiet minority partner to becoming the main owner of KTM.
Before this transaction, Bajaj Auto held 49.9% in PBAG through BAIHBV. The remaining stake was with Pierer Industrie AG, owned by Stefan Pierer. PBAG also owned about 75% of PMAG, which is the company that controls KTM AG. This meant Bajaj indirectly owned around 37.5% of KTM.