On May 23, 600 million euros for the renovation of KTM must be received on the account of the renovation receiver Peter Vogl. While the clock is mercilessly tapping into the battle for financing this amount, another front opens. A million doors rage between KTM owner Stefan Pierer and an investor.
At the beginning of January, Stephan Zöchling moved to the board of Pierer Industrie AG. On January 27, the Remus -Baas was elected to the supervisory council during the General Meeting of Pierer Mobility AG in Munderfing, whose chairman he also took over. “I know the industry, I know the mechanisms and know the KTM company very well because we are a supplier,” Zöchling emphasized this Monday in January.
Some small shareholders looked at the new strong man in the group of companies, but his appearance was certainly winning and convincing. And with the financial support in a critical phase, Zöchling had won enormous importance in the battle for the rescue of KTM.
A little more than three months later a dispute of a million dollars is racing between KTM owner Stefan Pierer and the investor. Because the money has been made available by Zöchlings Holding-Is spoke of 65 to 78 million euros is not said that it has been repaid on the agreed deadline, Zöchling now apparently wants to use the shares that make him available as security. A Pierer spokesperson said that judicial steps would be taken against non -evil recycling tests.
KTM will need 600 million euros by 23 May
On November 29, 2024, renovation procedures were opened over three companies by KTM. The creditors must be used with a rate of 30 percent. To do this, 600 million euros must be received before 23 May.
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.
