He had helped millions in a delicate phase of the survival struggle, had moved to the Pierer Industrie AG board and the supervisory council of Pierer Mobility AG – now the Stephan Zöchling chapter at KTM apparently ends. In any case, the Remus -Baas will leave the supervisory board again on 23 June.
For outsiders, the dedication of Stephan Zöchling to the KTM group had arisen from nowhere, now it apparently ends again. After it was announced on 22 May in the evening that the Pierer Group Company MBH has repaid its loan obligations to the Dabepo possession of Zöchling in full and therefore the temporary business relationship with the Remus -Baas, who had previously threatened with the use of the shares that made him available as safety.
Pierer Mobility Supervisory Board will be rebuilt on 23 June
Pierer Mobility AG announced on Monday evening that Zöchling, who was only chosen chairman of the Supervisory Board on January 27, will leave the Control Committee. Instead, on 23 June, Dinesh Thapar, CFO of Bajaj Auto Limited, as well as the lawyers Ernst Chalupsky and Ewald Oberhammer of the elections will be confronted with the supervisory board.
600 million euros for payment of the quota to the creditors
The Rocades pass a few weeks after the rescue of KTM was carried out: the Bajaj Auto International Holdings BV, formerly strategic partner of Stefan Pierer, has made a loan of 450 million euros available for KTM AG. Another 150 million euros received Pierer Mobility AG, which forwards the required remaining amount to make the quota payments to the KTM companies.
The Indians, who had previously provided 200 million euros for restarting production and continuous operation, were in charge. As soon as all regulatory releases are there, Bajaj in Pierer Bajaj AG, who owns the majority at the KTM-Muttergezeellschaft Pierer Mobility, becomes a new only owner because you take over the shares of Pierer Industrie AG of Stefan Pier. That can run until May 2026.
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.
