Bajaj Auto Limited has announced its complete acquisition and establishment of full ownership of the Austrian holding company and securing complete control over the premium motorcycle manufacturers KTM AG and Pierer Mobility AG.

This was finalised after the receipt of necessary approvals from European regulators for its 800-million euro deal. The company has also changed the name of Pierer Bajaj AG (PBAG) to Bajaj Auto International Holdings AG and PIERER Mobility AG (PMAG) which is the holding company of KTM AG

KTM and Bajaj have a 17-year-long partnership, which started in 2007 when Bajaj Auto acquired a 14.5% stake in KTM. In 2012, KTM entered the indian market with the help of Bajaj by launching the Duke 200. The Partnership observed big success in the Indian market.