The financing package for the renovation of KTM is secure! With the message published on Tuesday at 0.34 am, the parent company of the motorcycle manufacturer provided a collective breath. Read here the first reactions to the message that the company from Mattighofen (Upper Austria) has the 600 million euros.
Since Saturday it is known that Bajaj and therefore the Indian co -owner of Pierer Mobility AG have obtained a loan of 566 million euros and that the rescue of KTM is within reach. In the night of Tuesday, the motorcycle manufacturer confirmed these developments and said: the financing package for the renovation is secured!
Three days before the 600 million euros for the quota of 30 percent and the procedural costs of KTM-AG Sanication Weir Peter Vogl must be, the company from Mattighofen took a very important step.
“Strong signal for trust in future viability”
“Safe financing is a strong signal for trust in the future viability of the company and our brands. Above all, it is an important milestone for the stabilization and strategic restart of KTM AG,” says KTM CEO Gottfried Neummeister.
And many others also breathe up. “It is good that the fulfillment of the renovation plan has already been protected and was therefore not expected for the last possible date,” says Andreas Stangl, president of the Chamber of Labor in Upper Austria. Karl-Heinz Götze, Insolventie Manager at the Credit Protection Association of 1870, says: “It is not only for the company, but also for employees and their families, the region and also the suppliers that is now underway with KTM.”
“Nerve scrap”
Götze also refers to the fact that KTM was successful only a few days before the payment day, also refers to a “freely complicated constellation”: “against the background of the many destiny, it was of course nerve -racking.”
With a view to Bajaj, who becomes a savior, says Florian Beckermann of the Interest Association for Investors: “After a lot of drama, Indian caution and financial strength prevails.” The clarity that the financing is protected is “an exemption for shareholders, employees and the region”. “The long -moved speculation that could not be explained with reason. Afterwards you must analyze whether faster action would not have been better,” said Beckermann.
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.
