Bajaj Auto Arm Inks €80 Million Receivable Deal Linked To Pierer Group Entities

Bajaj Auto Ltd. on Thursday said its wholly-owned Dutch subsidiary, Bajaj Auto International Holdings B.V., has entered into a receivable redemption agreement worth €80 million (₹7.76 billion) with Pierer Konzerngesellschaft mbH.

Under the agreement, the Bajaj arm will assume the commitments of the existing loan and share pledge agreements related to Pierer Industrie AG, Pierer Immoraeal GmbH, and Pierer Immobilienverwaltung GmbH, Bajaj Auto said in a filing to the exchanges.

The amount will be paid to Dabepo Holdings GmbH as part of the transaction.