Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Pierer Mobility shares halted after KTM restructuring plan approved

Published by Global Banking and Finance Review

Posted on February 25, 2025

Featured image for article about Finance

(Reuters) - Shares in Pierer Mobility AG were halted from trading on Tuesday after being seen up 16.7% in response to the reorganization plan for the company's subsidiary KTM AG being accepted by creditors.

The restructuring plan provides for the motorcycle company's creditors to receive a cash quota of 30% of their claims, to be paid by the company to the restructuring administrator by May 23.

The group has hired Citigroup to support the investment process for an additional 800 million euros ($840.40 million) required to finance the cash quota and further production.

KTM AG filed for court restructuring proceedings in November.

($1 = 0.9519 euros)

(Reporting by Bernadette Hogg, Editing by Friederike Heine)