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This is an archive article published on April 16, 2010

Bajaj Auto ups stake in Austria’s KTM

The Indian two-wheeler major has said that it has increased its stake in the Austrian bikemaker.

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Bajaj Auto has been slowly increasing its stake in the Austrian company.

India’s No. 2 motorcycle maker,Bajaj Auto,said on Friday it has invested 20 million euros to raise its shareholding in Austrian power bike maker KTM to 35.7 percent from 31.9 percent.

The stake increase was part of a loan conversion and rights issue programme,Bajaj said in a statement.

The company also said joint development projects between the two firms were proceeding well and products will be launched in the European market by the year-end and by mid-2011 in India.

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