Indian manufacturer acquires larger share of KTM
October 3, 2008
Filed under Features
An Indian manufacturer now holds a larger share of Austrian manufacturer KTM. Bajaj Auto recently acquired 59,500 shares of KTM Power Sports AG, KTM announced on its Web site. As a result, Bajaj Auto holds voting rights and capital stock of more than 25 percent but not more than 30 percent, KTM said.
The two companies started partnering on projects in late November 2007. At the time of the partnership announcement, KTM said it would provide the technology behind its water-cooled, four-stroke engines and in return Bajaj would sell KTM products in India and elsewhere in south and eastern Asia.