Bajaj Auto Subsidiary to Acquire Controlling Stake in Pierer Bajaj AG

Bajaj Auto International Holdings BV (BAIH), a wholly owned subsidiary of Bajaj Auto Limited, has entered into a Call Option Agreement with Pierer Konzerngesellschaft mbH and Pierer Industrie AG for the right to purchase shares in Pierer Bajaj AG (PBAG). The agreement is a critical step in BAIH assuming control of the KTM business, following Bajaj's intent to take charge of rebuilding the KTM business and acquire a controlling stake in PBAG. The full exercise of the options will mark the resultant exit of the Pierer Group from PBAG and KTM.