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    BAJAJ-AUTO   INE917I01010

BAJAJ AUTO LIMITED

(BAJAJ-AUTO)
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PIERER Mobility AG reached an agreement in principle to acquire an additional 46.5% minority stake in KTM AG from Bajaj Auto Limited (NSEI:BAJAJ-AUTO).

07/26/2021 EDT

PIERER Mobility AG (WBAG:PMAG) reached an agreement in principle to acquire an additional 46.5% minority stake in KTM AG from Bajaj Auto Limited (NSEI:BAJAJ-AUTO) on July 26, 2021. PIERER Mobility AG plans to finance the purchase through a capital increase through contribution in kind. It will boost its capital by up to 50%, excluding subscription rights. After completion of the transaction, the shareholding of PIERER Mobility AG in the operating KTM AG will increase from currently about 51.7% to about 98.2%. Bajaj's board of directors and shareholders accorded its in-principle approval to transaction. Pierer and Bajaj will now initiate competition and takeover law consultations with the relevant authorities as well as the necessary valuations; PIERER Mobility AG, for its part, will go ahead with preparations under capital market law. Depending on the outcome of the valuation process, the opinion of the Austrian Takeover Commission and the transaction negotiations as well as the clearance by the competition authorities. Transaction is also subject to regulatory approvals.


© S&P Capital IQ 2021
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Financials
Sales 2022 347 B 4 711 M 4 711 M
Net income 2022 53 900 M 733 M 733 M
Net cash 2022 222 B 3 025 M 3 025 M
P/E ratio 2022 20,4x
Yield 2022 4,03%
Capitalization 1 104 B 15 008 M 15 002 M
EV / Sales 2022 2,54x
EV / Sales 2023 2,27x
Nbr of Employees 10 044
Free-Float 41,6%
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Number of Analysts 0
Last Close Price 3 813,50 
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Managers and Directors
Rajivnayan Rahulkumar Bajaj Managing Director & Executive Director
Soumen Ray CFO & President-Finance Division
Nirajkumar R. Bajaj Chairman
Abraham Joseph Chief Technology Officer
J. Sridhar Secretary & Chief Compliance Officer
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