The insolvency motorcycle manufacturer KTM will need money at the end of March to secure the company in April and May. This requires a total of 100 million euros, which were promised by the Indian co -owner Bajaj. The money is not there yet. However, one is optimistic that it will come soon and the transaction can take place in two tranches.
Bajaj has already shot 50 million euros this year to raise production in Mattighofen again. The latter happened on March 17. Now KTM needs more money. In February the total of 150 million euros – a third for the ride and the rest for the company in April and May – was promised by the management decision.
Renovation -receiver optimistic
Renamation agent Peter Vogl has faith in the Indians who have always kept their word. In this procedure, there is generally nothing extraordinary that money comes from a deadline on the last day, possibly for balance reasons at Bajaj in two tranches.
600 million euros required for payment of the quota
KTM only wants to comment on the business from May 23. Until that time, the quota of 30 percent one total of 600 million euros-MUST will be paid to the creditors. There is a search for investors to set this money. There must be various interested parties.
Start -Up Stock Demoughtededed
A few weeks after KTM AG and his daughters KTM components GMBH and KTM Research and Development GmbH had applied for a bankruptcy on November 29, the production of motorcycles was stopped on December 13. There was almost three-month interruption with wage and salary reductions to reduce the high shares. After accepting the renovation plan with a Balkquotum of 30 percent for the creditors and a first money injection of 50 million euros from the co -owner Bajaj at the end of February, production could at least get the production of layers. Its full use must be reached within three months.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
