Sunday, September 06
Bajaj Auto Ltd has completed its acquisition of a majority stake in Austrian motorcycle maker KTM AG, after receiving the final approval from European regulators for its €800-million deal. The company confirmed the development in a regulatory filing on Wednesday, marking the completion of all formalities related to the transaction. As part of the deal, Bajaj Auto announced that Pierer Bajaj AG (PBAG) has been renamed Bajaj Auto International Holdings AG, while KTM’s holding company, Pierer Mobility AG (PMAG), listed on the Zurich and Vienna stock exchanges, will now be called Bajaj Mobility AG. Earlier this month, Bajaj had indicated that it had secured eight of nine regulatory clearances, with the European Commission granting the final approval on November 10. The Indian automaker had
Shares of information technology major Infosys rallied as much as 3% to their day’s high of Rs 1,531 in morning deals on Wednesday, November 19, after it said it will open its Rs 18,000 crore share buyback on Thursday, November 20, with the window scheduled to close on Wednesday, November 26.Shareholders cleared the proposal on November 6, paving the way for the company to repurchase up to ten crore fully paid-up equity shares. The buyback will be executed at Rs 1,800 per share and is open to investors who held Infosys stock as of the record date, November 14.The repurchase will be carried out through the tender offer route on a proportionate basis. Kotak Mahindra Capital Company is managing the buyback process, while KFin Technologies Limited will act as the registrar. For small shareho
