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.