When Stefan Pierer became president of the Upper Austria Industrial Association at the age of 65, the entrepreneur looked hungry: “I work as long as it’s fun. My idol is Mick Jagger, who also jumps on stage.” Almost three years later, after the bankruptcy on KTM, the end of his era was sealed at the motorcycle manufacturer. Elsewhere he will still have to give the reins out of his hand …
Thursday morning was finally the certainty that KTM managed to save. A few hours later, the 525 million euros were already in the account of the recipient of the renovation, which are required for the quota of 30 percent to the creditors. At the same time, the end of an era was sealed: after Stefan Pierer KTM was purchased from bankruptcy in 1991, he will be released to Bajaj within the next twelve months at Pierer Bajaj AG.
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.
