Bajaj Auto BV Explores Restructuring Moves for KTM AG
Bajaj Auto's Netherlands-based arm is negotiating to participate in the restructuring of Austrian bikemaker KTM AG. Despite the financial stress of KTM AG, Bajaj is considering increasing its stake. Bajaj Auto has approved a €150 million investment in its subsidiary, Bajaj Auto BV, signaling financial support for this venture.
- Country:
- India
Bajaj Auto Ltd announced on Monday that its wholly-owned subsidiary in the Netherlands is in talks to join the restructuring efforts for KTM AG, following a plan already approved by the Austrian company's creditors.
The filing revealed Bajaj Auto International Holdings BV is exploring potential roles in the restructuring. This move accompanies reports of the subsidiary securing a €566 million loan possibly for KTM AG's restructuring.
In February, Bajaj Auto's board had sanctioned an investment of up to €150 million in its subsidiary, Bajaj Auto BV, indicating support to the financially strained KTM AG amidst discussions of increasing its stake in the embattled company.
(With inputs from agencies.)
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