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Quite common British verbiage.
The team has many people.
"Red Bull are very happy Max is OK".
So far no bike, or riders.
We’ll see..
Pit Row
Outside interest is Monster, Twisted Tea, Red Bull etc etc etc
Triumph used to race off road a lot, winning ISDE (ISDT that Steve Freaking McQueen raced) so it's not like they are outside the sport. They are a manufacturer coming back.
I've said it before, some people have a problem for every solution.
29 September 2021: PIERER Mobility AG: Simplification of the shareholding structure with Bajaj will be executed
* Bajaj contributes 46.5% stake in KTM AG into listed PIERER Mobility AG
* The Management Board resolves a capital increase in the amount of EUR 895 million
* PIERER Mobility AG increases its share in the operationally active KTM AG from 51.7% to 98.2%
Pierer and Bajaj sign contracts to simplify the shareholding structure
As announced on 26 July 2021, the Indian Bajaj Group and the Austrian Pierer Group simplify the shareholding structure in the operating KTM AG. Today, Bajaj Auto Ltd. (India) and its subsidiary Bajaj Auto International Holdings B.V. (Netherlands, "BAIHBV") and the Pierer Group signed the corresponding contracts.
Contribution of the shares held by Bajaj in KTM AG to PTW Holding AG
In a first step, BAIHBV has today contributed 46.5% out of its approx. 48% shares currently held in KTM AG to PTW Holding AG (the majority shareholder of PIERER Mobility AG), owned by the Pierer Group. In return, BAIHBV has been granted a 49.9% stake in PTW Holding AG.
EUR 895 mio. capital increase of PIERER Mobility AG
In a second step, the 46.5% KTM shares now held by PTW Holding AG will be contributed to PIERER Mobility AG against the granting of new shares in the context of a capital increase through contributions in kind. To this end, the Management Board of PIERER Mobility AG has resolved today to execute a capital increase against contribution in kind in the total amount of EUR 895 mio., corresponding to 49.9% the the existing share capital, by making use of the authorised capital. In this context 11,257,861 shares will be issued at an issue price of EUR 79.50 per share, which is higher than the current stock market price. The capital increase will be carried out exclusively against contribution in kind of KTM-shares by PTW Holding AG and under exclusion of subscription rights of the other shareholders. The capital increase will be executed, subject to the approval of the supervisory board, in the second half of October.
Following the execution of this transaction, the shareholding of PIERER Mobility AG in the operating KTM AG will increase from currently around 51.7% to around 98.2%. The Pierer Group will continue to retain sole control over PIERER Mobility AG.
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