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KTM Motorcycles To Be Bought By Bajaj For 90%?

10
February
2010
  Posted at 05:00:00 PM
  File under  Bajaj KTM
  Author: Mike Werner
  Location: Travelling
click to see India on a map

Bajaj logo
KTM logo
KTM have approached their major shareholder, Indian motorcycle manufacturer Bajaj, to increase their share-holding in the Austrian company from the current 30% to 90%. KTM are looking at selling their currently owned 60% for cash.

Bajaj have announced that they will buy up to 51% of the shares at this moment in KTM, giving them a majority share, and at a later stage increase their holdings to the 90%.

That would turn the Austrian motorcycle maker into an Indian brand.... The cash strapped KTM needed an influx of capital to remain competitive. Already Bajaj will be making KTM's 125cc motorcycles. Despite turning a profit, KTM's sales is down 16%.

Source
: The Economict Times of India Open link in a new window
Click here to listen to the TV program of the initial 90% offering Open link in a new window
Click here to listen to the TV program of the 51% purchase Open link in a new window

UPDATE: KTM have officially denied the takeover. They are stating that they (CROSS Industries) will retain over 50% of the shares, thereby keeping management control of KTM.



Via: Vicky



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