India-based OEM increases stake in KTM
Bajaj Auto became the second-largest stakeholder in KTM Power Sports when it upped its share to 47 percent recently, according to numerous reports.
Bajaj Auto’s Netherlands-based wholly-owned subsidiary Bajaj Auto International Holdings recently made a purchase of 6.3 percent of KTM’s stock from a key stakeholder through an open market transaction, according to a report in The Economic Times. Bajaj Auto, the second-largest motorcycle manufacturer in India, bought its first 14.5 percent stake in KTM in 2007 and has been gathering more shares over time. Stefan Pierer and Rudolf Kunuenz hold more than a 51 percent stake in KTM, and Bajaj told The Economic Times recently that it doesn’t want to become the majority shareholder in KTM.
The two companies have been working together in India on Indian models and engines.
To read the full story from The Economic Times, click here.
Photo by Schedl R.