Brief: Pierer Mobility Simplification Of Shareholding Structure With Bajaj Auto

Bajaj Mobility AG

27/11/2020 12:32

Nov 27 (Reuters) - PIERER MOBILITY AG  PMAG.VI :
    * SIMPLIFICATION OF SHAREHOLDING STRUCTURE WITH BAJAJ AUTO
    * PIERER INDUSTRIE AND BAJAJ AUTO RESTART DISCUSSIONS FOR
BAJAJ TO
PARTICIPATE AT LEVEL OF PIERER MOBILITY
    * BAJAJ AUTO INTERNATIONAL HOLDINGS BV (REFERRED TO AS
BAJAJ)
HOLDS APPROXIMATELY 48% OF SHARES OF OPERATING KTM AG
    * DISCUSSIONS ON TRANSFERRING BAJAJ'S 48% STAKE IN OPERATING
KTM
AG TO PIERER MOBILITY AG, WITH PIERER-GROUP CONTINUING TO RETAIN
MAJORITY OVER PIERER MOBILITY AG
    * PIERER INDUSTRIE AG IN A FIRST STEP CONTRIBUTES ITS 60%
STAKE IN
PIERER MOBILITY AG TO "PTW HOLDING AG" THROUGH A CONTRIBUTION IN
KIND
    * AUTHORIZED CAPITAL ENABLES A CAPITAL INCREASE OF UP TO 50%
OF
EXISTING SHARE CAPITAL
    * AFTER TRANSACTION, STAKE OF PIERER MOBILITY AG IN KTM AG
INCREASES FROM CURRENTLY 51.7% TO APPROXIMATELY 99.7%

Source text for Eikon:  ID:nEQ9QJqZja 
Further company coverage:  PMAG.VI 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;;))