Bajaj Auto to increase stake in KTM
The country’s fourth largest bike maker is reportedly going to complete stake increase in 6-8 weeks. Bajaj Auto already holds a 25.86% share in KTM. As per reports, the Pune-based manufacturer is going to increase it’s stake in the Austrian auto major to 30%. Reports are also emerging that the company’s CEO and MD has confirmed the news of the company increasing it’s shares in KTM.
Rajiv Bajaj, CEO and MD, Bajaj Auto, has reportedly said that the stake increase will be completed in 6 to 8 weeks. He also commented that his company has reached an agreement to increase stake in KTM. However, he apparently declined to talk about the valuations saying it wouldn’t be appropriate at this juncture.
[Via: BIKE]
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