This is not news that will surprise you.More the officialization support from Bajaj Pierer Mobility and KTM AG allow the Austrian company to take an important step towards continuing its existence.
If the press release does not yet allow us to know KTM's future in MotoGP, the 30% contributed by the Indian manufacturer today above all allows the firm to continue working on its restructuring plan.
PIERER Mobility AG: Bajaj provides PIERER Mobility AG and KTM AG with the necessary funds to meet the restructuring plan quotas
- The quotas of the restructuring plan of KTM AG, KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH will be met on time
- Changes to the Board of Directors of PIERER Mobility AG
As announced, the creditors of KTM AG, KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH approved a restructuring plan quota of 25% on 2025 February 30, payable by 23 May 2025. The total and final amount required to finance the quota under the three restructuring plans ultimately amounted to €525 million.
Bajaj Auto International Holdings BV is providing the necessary funds to ensure the continuity of KTM by financing the payment of quotas to creditors as part of KTM's restructuring.
To this end, KTM AG will receive a loan of €450 million. An additional €150 million will be granted to PIERER Mobility AG, which will transfer the remaining amount required to meet quota payments to the KTM companies.
Stefan Pierer will step down from the Board of Management of PIERER Mobility AG after the restructuring process is completed in June 2025. The Supervisory Board appoints Verena Schneglberger-Grossmann, who has been with the Group since November 2015, as a new member of the Board of Management of PIERER Mobility AG, thus supporting CEO Gottfried Neumeister.
