Bajaj Auto’s long-running bid to take control of KTM’s parent company has taken another major step forward, with regulators in Europe clearing the way for the takeover to proceed.
In a formal communication issued to the BSE and NSE on 10 November 2025, Bajaj Auto Limited confirmed that its wholly owned subsidiary, Bajaj Auto International Holdings B.V. (BAIH), has received notification from the European Commission that no in-depth investigation will be initiated under the Foreign Subsidies Regulation. The approval effectively removes the final regulatory hurdle in BAIH’s plan to acquire control of PIERER Mobility AG, the group behind KTM, Husqvarna and GasGas.
This latest update follows Bajaj’s earlier announcement—made to the exchanges on 24 October 2025—that the Austrian Takeover Commission had granted restructuring privilege for the proposed transaction, allowing Bajaj to move ahead without triggering a mandatory takeover bid to existing PMAG shareholders.
PIERER Mobility AG has now issued a corresponding press release, dated 10 November 2025, confirming the European Commission’s decision and outlining what happens next. According to PMAG, BAIH was informed on 10 November that the Commission will not open an Article 11 investigation under Regulation 2022/2560, clearing the takeover to proceed to completion from 11 November onward.
The move is the latest step in a process that began earlier this year. On 22 May 2025, BAIH entered into a call option agreement with Pierer Industrie AG, giving Bajaj the right to acquire all shares held by Pierer Industrie AG in Pierer Bajaj AG—the majority shareholder of PIERER Mobility AG—no later than May 2026.
With the EU’s decision now confirmed, the acquisition of Pierer Industrie AG’s 50.1% stake in Pierer Bajaj AG is officially possible. Once the formal closing is completed in the coming weeks, BAIH will become the sole owner of Pierer Bajaj AG. That company in turn controls 74.9% of PIERER Mobility AG, giving Bajaj effective control of the entire group.
The regulatory approval marks another major milestone in a turbulent period for KTM and its sibling brands. KTM’s financial difficulties became public more than a year ago, prompting a series of restructuring efforts and eventually Bajaj’s decision to inject €800 million to stabilise the business.
Now, with European and Austrian approvals in place, the historic tie-up between KTM and Bajaj—dating back more than a decade—enters a new chapter. Industry observers expect further corporate restructuring, including name changes similar to those hinted at in earlier communications, as Bajaj integrates the group more closely into its global operations.
Bajaj Auto’s stock-exchange communication confirms that the company received PMAG’s press release and corresponding notification at around 6:30 pm IST on 10 November 2025. In accordance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR), Bajaj has made the filing publicly accessible via its investor website.
PMAG’s formal ad-hoc announcement—issued under Article 17 of the EU’s Market Abuse Regulation (MAR) and Article 53 LR—reiterates the legality of the process and includes the standard disclaimer noting that the announcement does not constitute an offer to sell or solicit securities.
With no remaining regulatory barriers, closing of the transaction is expected “in the coming weeks,” according to PIERER Mobility AG. Once finalised, Bajaj will hold controlling interest in some of Europe’s most recognised motorcycle brands, further cementing the Indo-Austrian partnership that has shaped much of KTM’s growth over the last decade.
