Austrian commission approves Bajaj Auto’s restructuring privilege for PIERER Mobility stake

Bajaj Auto International Holdings BV (BAIH), a subsidiary of Bajaj Auto Limited, announced on October 24, 2025, that the Austrian Takeover Commission confirmed a restructuring privilege for its acquisition of control over PIERER Mobility AG (PMAG). This approval exempts BAIH from making a mandatory takeover bid to PMAG shareholders. This is a significant step in BAIH's plan to acquire a sole controlling stake in Pierer Bajaj AG (PBAG) from Pierer Industrie AG (PIAG), thereby gaining indirect control of PMAG and KTM AG. BAIH currently holds a 49.9% stake in PBAG.

The acquisition involves the purchase of 50,100 shares held by PIAG in PBAG, following agreements made in April and May 2025. These agreements were contingent on various regulatory approvals, including merger, subvention, and investment controls. All necessary merger control approvals have now been granted across relevant jurisdictions, including Austria, Poland, Colombia, Saudi Arabia, U.S.A., and Turkey, between July and September 2025.

To protect the financial interests of other shareholders, the Austrian Takeover Commission imposed conditions, including requirements for immediate disclosure of the merger's non-prohibition and the fulfillment of call option agreement conditions. BAIH anticipates exercising its call option for 50,000 shares in PBAG around November 10, 2025, to gain sole control.