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Bajaj Auto Acquires Full Control of KTM Parent Company
Bajaj Auto announced the completion of its acquisition of Pierer Bajaj AG (PBAG) following the fulfillment of all conditions in the call option agreement with Pierer Industrie AG. This acquisition grants Bajaj Auto International Holdings BV (BAIH) complete ownership of PBAG and an indirect 74.9% stake in PIERER Mobility AG (PMAG) and KTM AG. As part of this restructuring, PBAG will be renamed Bajaj Auto International Holdings AG, and PMAG will become Bajaj Mobility AG, with changes in governance initiated post-acquisition.
Keshav Rajput
Updated Nov 21, 2025, 10:42 AM IST
Bajaj Auto Acquires Full Control of KTM Parent Company
In a regulatory filing, Bajaj Auto stated that all requirements under the existing call option agreement between Bajaj Auto International Holdings BV (BAIH) and Pierer Industrie AG had been met. With this, BAIH acquired all 50,100 shares of Pierer Bajaj AG (PBAG). This brings the entire transaction process to a close, following multiple updates issued earlier in the year regarding regulatory approvals and phased call-option exercises.
The company had previously disclosed that the call-option process was linked to approvals from the Austrian Takeover Commission and notification from the European Commission. With all such clearances in place, the share transfer was completed on 18 November 2025.
Full Indirect Control Over PMAG and KTM
As PBAG becomes a wholly owned subsidiary of BAIH, the acquisition also results in an indirect controlling stake of around 74.9% in PIERER Mobility AG (PMAG) and KTM AG. This makes PMAG and KTM step-down subsidiaries of BAIH and in turn, of Bajaj Auto.
Name Changes and Governance Updates
Following the completion of the share acquisition, the restructuring also includes changes in corporate names:
- PBAG will be renamed Bajaj Auto International Holdings AG.
- PMAG will be renamed Bajaj Mobility AG.
The supervisory and management boards of PBAG, PMAG, and KTM will also undergo reconstitution as part of the organisational changes required after the Pierer Group’s exit.
Pierer Group Exit Formalised
The transaction marks the complete exit of the Pierer Group from PBAG, and consequently from its controlling position in PMAG and KTM. Bajaj Auto stated that the required processes to reflect this change in governance and ownership have already been initiated.Log in to post a comment.
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