Is the dust finally settling around everyone's favorite Austrian motorcycle manufacturer at last? While there are undoubtedly some further shifts and changes to be expected, at least one thing is clear, as of November 18, 2025: Bajaj Auto International Holdings BV (BAIH), which is a wholly-owned subsidiary of Bajaj Auto Limited, has officially acquired all 50,100 shares of Pierer Bajaj AG (PBAG, and once more, I'm not making that acronym up).
Now, the full structure of all the subsidiaries that previously stood over KTM may not immediately be present in your mind, which is totally fair. I've described it as a corporate nesting doll on more than one occasion, and I see no reason to change that description now because it's pretty helpful to wrap your brain around it all.
As it previously stood, Pierer Mobility AG and KTM were both previously subsidiaries of PBAG. Therefore, Bajaj's full takeover of PBAG also means that Bajaj now officially has a full controlling stake in both PMAG and KTM. Or, the TL;DR version, once we've fully reduced our equation down to just the essential summation: Bajaj is now officially in charge of KTM. It's not a matter of time anymore; it's happened.
Unsurprisingly, as we learned would happen not very long ago, this also means that Bajaj has opted to change the names of some of the subsidiaries now under its control. What was previously Pierer Bajaj AG (the aforementioned PBAG) has now changed names, and should be referred to as Bajaj Auto International Holdings AG.
But that's not the only subsidiary name change that's now on the books. Pierer Mobility AG (PMAG) has now also officially changed names, and shall henceforth be called Bajaj Mobility AG (BMAG). Additionally, Bajaj has disclosed to its investors that the supervisory and management boards of all three subsidiaries (that would now be BAIHAG, BMAG, and KTM) are now being reconstituted with different members, who will presumably steer each entity as they collectively see fit.
All this occurred shortly after the entire proposal cleared the final remaining hurdle that it had: That the EU Commission finally decided against initiating any in-depth investigations into the Bajaj takeover as regards the existing Foreign Subsidies Regulation. According to the entity formerly known as Pierer Mobility's own disclosures to its investors, this action occurred on November 10, 2025, and Bajaj was declared free to proceed with the takeover as of November 11, 2025, which it then proceeded to do the following week after that clearance.
What happens next? Presumably more action, now that everything's on the table and all clearances have been granted. We'll be sure to keep you up to date on all the developments as and when they occur here at RideApart. Are you excited about the new era at KTM, are you nervous, or what do you think is going to happen? Sound off in the comments below.
