Bajaj Auto has completed its full acquisition of KTM’s holding company, Pierer Bajaj AG (PBAG), through its wholly owned subsidiary Bajaj Auto International Holdings BV (BAIH) as of November 18, 2025. This strategic transaction, valued at around 800 million euros, followed all regulatory approvals in Europe, including from the Austrian Takeover Commission and the European Commission.

With this acquisition, Bajaj Auto now owns 100% of PBAG, which in turn holds a 74.9% controlling stake in Pierer Mobility AG (PMAG) and KTM AG. The deal marks Bajaj’s transition from a long-time minority partner to the majority owner and primary decision-maker in KTM’s global operations. PBAG has been renamed Bajaj Auto International Holdings AG, and PMAG, which is publicly listed in Zurich and Vienna, will be renamed Bajaj Mobility AG.

Bajaj Auto has begun restructuring the supervisory and management boards of PBAG, PMAG, and KTM to align with the new ownership structure. This acquisition significantly strengthens Bajaj’s position in the global premium motorcycle market, enabling greater control over product development, technology, and market strategy for KTM.

The acquisition process began in May 2025 with the signing of an agreement to purchase shares from Pierer Industrie AG. Bajaj exercised call options through successive notices, and following clearance from regulators, finalized the purchase of all 50,100 PBAG shares. This move solidifies Bajaj Auto’s ambitions to lead and revive KTM’s operations while expanding its footprint in premium and performance motorcycles globally.​