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Mergers & Acquisitions | 4 April 2012

Bajaj Auto Acquires Additional 6.3% In KTM Power Sports

by Charmi Gutka
Bajaj Auto Acquires Additional 6.3% In KTM Power Sports
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Bajaj Auto Limited has acquired additional 6.3% stake in Austria based KTM Power Sports AG, taking its stake to around 47%.

According to ET, Bajaj Auto purchased stake through its Netherlands-based wholly-owned subsidiary - Bajaj Auto International Holdings in an open market transaction.

Bajaj Auto is the second-largest shareholder in KTM , while the other large shareholders-Stefan Pierer and Rudolf Knuenz-hold more than 51% stake.

Both companies have an arrangement with them under which they can go up to acquiring 49% stake in KTM and Bajaj can acquire the stake only through open market.

In 2007, Bajaj picked up a 14.9% stake in KTM for around R300Cr. A year later, it increased its stake in the European bike-maker to 25% and has been increasing it gradually.

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