Bajaj Auto Completes Full Acquisition Of KTM: Details

Bajaj Auto has finalized a landmark global deal, securing full ownership of KTM's holding company, Pierer Bajaj AG (PBAG), via its wholly owned arm, Bajaj Auto International Holdings BV (BAIH). On November 18, 2025, after completing all approvals, BAIH acquired all 50,100 shares from Pierer Industrie AG (PIAG), officially marking the end of Pierer Group's stake in PBAG.

The acquisition process began in May 2025, when Bajaj signed an agreement to purchase PIAG's shares. Following this, Bajaj issued two notices to exercise its call option and obtain necessary approvals. These included clearance from the Austrian Takeover Commission, confirming no mandatory takeover offer was required, and a subsequent approval from the European Commission.

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This acquisition elevates Bajaj from a long-time minority partner to the majority owner of KTM. Previously, Bajaj Auto International Holdings (BAIH) held 49.9 per cent in PBAG, while the rest was controlled by Stefan Pierer's Industrie. Since PBAG owned nearly 75 per cent of PMAG, Bajaj's effective stake in KTM stood at 37.5 per cent before this landmark transaction.

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After completing the acquisition process, Bajaj has renamed Pierer Bajaj AG (PBAG) as Bajaj Auto International Holdings AG. Meanwhile, Pierer Mobility AG (PMAG), which is listed on the SIX Swiss Exchange in Zurich and the Vienna Stock Exchange, has been rebranded as Bajaj Mobility AG. Alongside these changes, restructuring of supervisory and management boards is underway to align operations with Bajaj's new strategic direction.