News for PIERER Mobility AG (PMAG.SW)

Bajaj Auto - the country's most valuable two-wheeler (2W) company by market capitalisation - met Street expectations in the January-March quarter (Q4) of 2024-25 (FY25) but still ended Friday as the worst performer on the Nifty 50, slipping 3.1 per cent.

The “call option” is aimed at buying out stakes held by Pierer Group companies in the complex holding structure for KTM. That would end Stefan Pierer’s three-decade long association with KTM.

The fresh infusion of funds is largely intended to pay off KTM’s creditors and ensure the continuity of its business.

Bajaj Auto to take control of KTM AG with an €800 million debt package, reviving the Austrian motorcycle maker.

A wholly owned unit of Bajaj Auto Ltd. is in "negotiations and exploring ways" to participate in the restructuring of KTM AG, according to an exchange filing on Monday, amid media reports that it has secured a loan to pull the Austrian out of bankruptcy. Bajaj Auto BV holds a 49.9% stake in KTM parent Pierer Mobility AG. The Duke maker has to submit a cash quota of €548 million by May 23 as part of an insolvency resolution process. In all, KTM needs €800 million to pay creditors

Bajaj Auto shares:Bajaj Auto International Holdings BV, a fully owned subsidiary of Bajaj Auto, has entered into loan agreements totaling €566 million with JPMorgan Chase, DBS Bank, and Citigroup Global Markets Asia. As stated in a stock exchange filing on Friday, the loans are unsecured and have a maturity period of one year.

Bajaj Auto Limited announced yesterday that its wholly owned Dutch subsidiary, Bajaj Auto International Holdings BV (BAIH BV), has provided a €50 million loan (approximately ₹455.56 crore) to Pierer Bajaj AG (PBAG) on February 24, 2025 .

Bajaj Auto Ltd on Friday said its board has approved an investment of up to Euro 150 million (Rs 1,364 crore) in its wholly-owned arm, Bajaj Auto International Holdings BV, Netherlands, to fund the needs of the latter towards investment opportunities.

The investment will be either in the form of equity capital/preference capital/loan – convertible or otherwise in one or more tranches.

Bajaj Auto Ltd. is set to invest €150 million in Bajaj Auto International Holdings BV, which holds 49.9% stake in bankruptcy-bound KTM, for “investment needs”. KTM’s debt restructuring process ends on Feb. 25. On Nov. 13, 2024, Pierer Mobility announced “far-reaching restructuring and additional liquidity requirements” at KTM AG.

The judicial restructuring of Pierer Mobility AG will not affect Bajaj Auto's business related to KTM products in India and select export markets. However, it is impacting Pierer Mobility AG/KTM AG's export volumes from Austria, India, and China to key markets in the US and Europe. Bajaj Auto remains committed to the sustained growth of this business.

Pierer Mobility shares plunge amid KTM insolvency filing

EQS-News: PIERER Mobility AG / Key word(s): Statement PIERER Mobility denies media reports about Mark Mateschitz's participa...

The Global Connected Motorcycle Market Size was Valued at USD 97.86 Million in 2023 and the Worldwide Connected Motorcycle Market Size is Expected to Reach...

EQS-DD: PIERER Mobility AG english 02.05.2024 / 17:52 CET/CEST The issuer is solely responsible for the content of this announcement. Notification and public...

EQS-DD: PIERER Mobility AG english 10.04.2024 / 17:09 CET/CEST The issuer is solely responsible for the content of this announcement. Notification and public...

EQS-DD: PIERER Mobility AG english 02.04.2024 / 18:42 CET/CEST The issuer is solely responsible for the content of this announcement. Notification and public...

MV Agusta has a long history of winning races, building beautiful motorcycles - and barely scraping by financially. Now, it may have finally found a good home.

EQS-DD: PIERER Mobility AG english 28.03.2024 / 19:11 CET/CEST The issuer is solely responsible for the content of this announcement. Notification and public...