New Delhi: Bajaj Auto Ltd. have said that it have obtained regulatory clearance from the Austrian Takeover Commission, making way for their acquisition of control in Pierer Mobility AG (PMAG), the parent company of KTM AG. The ruling allows Bajaj’s completely-owned Netherlands-based subsidiary, Bajaj Auto International Holdings BV (BAIHBV), to take full control without the need to make a mandatory takeover bid to other shareholders.

The commission confirmed that the acquisition qualifies as a “restructuring privilege” under Austrian law, with the transaction being carried out to aid KTM’s ongoing financial turnaround. This effectively exempts Bajaj from the obligations that are usually imposed under the Austrian Takeover Act, which requires a public offer when control changes hands.

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