International Dealer News IDN 148 April/May 2019 | Page 17

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Pierer Industrie in discussions
for Bajaj Auto's KTM AG stake to
transfer into KTM Industries AG
The ownership structure of KTM
in Austria is a pyramid, with
Stefan Pierer's Pierer Industrie
AG holding approximately 62%
of the shares of its subsidiary,
KTM Industries AG. In turn, KTM
Industries AG holds
approximately 51.7% of the
shares of another subsidiary,
KTM AG, the company that
actually manufactures KTM (and
Husqvarna) motorcycles – with
Indian conglomerate Bajaj Auto
International Holdings BV
holding the other
(approximately) 48% of the
shares of KTM AG.
The news coming out of the
group is of discussions about
the possibility of transferring
Bajaj’s 48% stake in KTM AG up
a level to KTM Industries AG,
with the Pierer Group
continuing to retain the
controlling majority ownership
share in KTM Industries AG.
The second quarter of 2019 is
being targeted as a date by
which a decision as whether or
not such a transaction will take
place should be taken – the two
parties are currently evaluating
the idea in detail.
If Pierer Industrie AG and Bajaj
do decide to execute the
transaction, KTM Industries AG
will examine the legal and
economic requirements and
conditions of a capital increase
by contribution in kind from the
existing authorised capital of
the company. The authorised
capital enables a capital
increase of up to 50% of the
existing share capital. If the
transaction is executed, the
stake in KTM AG held by KTM
Industries AG will increase from
the current 51.7% to
approximately 99.7%.
Yamaha Motor makes
strategic investment in
'Grab' ride-hailing service
Yamaha Motor Co., Ltd. and Grab
Holding Inc., Southeast Asia’s leading
online-to-offline (O2O) platform, have
announced that they are to form a
strategic partnership to collaborate in
a motorcycle ride-hailing service
within Southeast Asia, with a focus on
Indonesia. As part of the partnership
agreement, Yamaha Motor will invest
US$150 million in Grab.
Through this partnership, Yamaha
Motor and Grab aim to "develop next-
generation mobility services by
implementing solutions and
innovations which leverage Yamaha
Motor’s technology and know-how in
motorcycle safety and to lower the
barriers to motorcycle purchase for
those engaged in (or considering
engaging in) motorcycle ride-hailing".
As part of their 2030 long-term vision,
this partnership "leverages robotics
technology, addresses social issues
through initiatives and promotes
innovations in mobility to expand the
field of human potential and create a
better society and lifestyles".
Yamaha Motor also aims to leverage
Grab’s customer base in Southeast
Asia and knowledge of the motorcycle
ride-hailing business for future
product development.
Grab is one of the most frequently
used mobile O2O platforms in
Southeast Asia. The Grab app has been
downloaded onto over 125 million
mobile devices, giving users access to
over 8 million drivers, merchants and
agents. Grab has the region’s largest
land transportation fleet, has
completed over 2.5 billion rides since
its founding in 2012 and offers the
widest range of on-demand transport
services, in addition to food and
package delivery services, across 235
cities in eight countries.
INTERNATIONAL DEALER NEWS - APRIL/MAY 2019
17