Deals22 May 2025, 10:24 am
Bajaj Auto Subsidiary Enters into Euro 80 Million Receivable Redemption Agreement
AI Summary
Bajaj Auto International Holdings BV (BAIH), a wholly owned subsidiary of Bajaj Auto Limited, has entered into a Receivable Redemption Agreement with PIKO for Euro 80 million (equivalent to Rs.776 crore) to be paid to Dabepo Holdings GmbH. The agreement is aimed at paying Dabepo Holding GmbH and taking over the commitment under the loan and Share Pledge Agreements concerning shares of PIAG, Pierer Immoraeal GmbH and Pierer Immobillienverwaltung GmbH.
Key Highlights
- Bajaj Auto's subsidiary, BAIH, enters into a Receivable Redemption Agreement with PIKO
- The agreement is for Euro 80 million (equivalent to Rs.776 crore) to be paid to Dabepo Holdings GmbH
- The deal aims to pay Dabepo Holding GmbH and take over the commitment under the loan and Share Pledge Agreements concerning shares of PIAG, Pierer Immoraeal GmbH and Pierer Immobillienverwaltung GmbH
- BAIH holds a 49.9% stake in Pierer Bajaj AG (PBAG), Austria
- PIKO is the holding company of PIAG