Bajaj swaps shares in KTM with Pierer Group

Pune-based, publicly listed automobiles maker Bajaj Auto and Austria-based Pierer Group have simplified the shareholding structure in the Mattighofen, Austria-based motorcycle and sports car manufacturer KTM AG. Under the deal, Bajaj will swap its 46.5% stake in KTM AG (out of its approximate 48% total stake) in return for a 49.9% stake in PTW Holding AG (the majority shareholder of publicly listed Pierer Mobility AG). The shareholding of Pierer Mobility AG in KTM AG will increase from the current 51.7% to around 98.2%.