KTM supremo Stefan Pierer has increased his controlling stake in publicly-listed KTM Industries, reports BDN financial editor Roger Willis.
Another of his companies, unlisted Pierer Industrie, has bought 5.42% of its share capital from KTM Industries board members and other people with close relationships to the company at a €4.80 per share.
The sellers had acquired these shares in the course of a private placement in 2015. At the end of September 2017, Pierer Industrie offered them the opportunity to sell a part of their investment to redeem financing obligations prematurely. Pricing was based on stock market valuation in September 2017 and an average over previous months.
In addition to this equity tranche now in the hands of Pierer Industrie, Stefan Pierer’s private holding entity Pierer Konzerngesellschaft owns 63.61% of KTM Industries.