Bajaj Auto Ltd.

Bajaj Auto has finalized a share-swap deal with Pierer Industries, which is its partner in Austrian Motorcycle and car maker KTM AG. Bajaj Auto's Netherlands subsidiary, Bajaj Auto International Holding (BAIHBV), has swapped 46.5 per cent stake (out of its about 48 per cent holding) in KTM AG, for a 49.9 per cent stake in PTW Holding.

Accordingly, BAIHBV has become an equity holder along with Pierer Industries in PTW Holding. In a second step, PTW Holding will contribute the 46.5 per cent stake in KTM AG to PM AG in exchange for 11,257,861 fresh shares in PM AG.

Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.