The wheels are turning swiftly now, as the Austrian Takeover Commission has now officially approved Pierer Mobility's previously proposed restructuring plans. Most importantly of all, the Commission says that it's completely fine with Bajaj Auto International Holdings acquiring every last one of Pierer Industrie's shares in the Pierer Bajaj company.
As we've mentioned in the past, it's basically a nesting doll of corporate entities. Pierer Industrie previously owned the majority stake in Pierer Bajaj, which owns Pierer Mobility, which owns KTM. And now, Bajaj will be the majority shareholder of all of the above, and the Austrian Takeover Commission says that it doesn't have to make a mandatory offer to other existing shareholders in the company. However, there are still antitrust approvals pending according to Austrian business publication Oberösterreichische Nachrichten.
