CURRENT AFFAIRS

Detailed explanation-1: -Bajaj Auto and Pierer Industrie, its partner in KTM AG, on Wednesday announced that they have finalised a plan to simplify shareholding in premium bike maker KTM through a share swap deal.

Detailed explanation-2: -KTM’s partnership with Bajaj Auto The Bajaj – KTM partnership began in 2007 when Bajaj Auto International Holdings BV (BAIHBV) picked up a 14.5% stake in KTM Power Sports AG and subsequently launched the brand in India.

Detailed explanation-3: -Austrian motorcycle manufacturer KTM, in collaboration with Bajaj Auto, has achieved a significant milestone in India by rolling out its one-millionth motorcycle from its Chakan manufacturing facility in Pune.

Detailed explanation-4: -Under the deal, Bajaj Auto will contribute a 46.5 per cent stake in KTM AG into listed Pierer Mobility AG. Bajaj Group and Austrian Pierer Group have simplified the shareholding structure in the operating motorcycle and sports car manufacturer KTM AG.

Detailed explanation-5: -The Bajaj KTM tie-up began in October 2007 and the first bike was rolled out in 2011.Rajiv Bajaj addressing the media said half of the 1 million KTMs are on Indian roads and the rest are exported to around 70 countries.