Bajaj Auto Announces Completion Of Majority Stake Acquisition In Austrian Bike Maker KTM For 800-Million-Euro Transaction

New Delhi: Bajaj Auto Ltd on Wednesday announced the completion of acquisition of a majority stake in Austrian bike maker KTM following receipt of necessary approvals from European regulators for its 800-million euro transaction.

The company has also changed the name of Pierer Bajaj AG (PBAG) to Bajaj Auto International Holdings AG and PIERER Mobility AG (PMAG) -- the holding company of KTM AG, the shares of which are listed on SIX Swiss Exchange in Zurich and Vienna Stock Exchange -- to Bajaj Mobility AG, Bajaj Auto said in a regulatory filing.Earlier this month the company had stated that out of nine regulatory approvals it had received eight and on November 10, it had received notification from the European Commission for the same.