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Industry: Email Alert RSS FeedKTM's cross sets deadline for buyback of Polaris stock.(FINANCIAL)(Cross Industries AG to buy its stake in KTM-Sportmotorcycle AG from Polaris Industries Inc.)
Powersports Business, December, 2006 by Ebert, Guido
Cross Industries AG, the majority shareholder of KTM Power Sports AG, has informed Polaris it will exercise its option to buy the block of shares Polaris holds in KTM by fall of 2007 at the latest.
KTM Power Sports AG is a public limited company with shares listed on the Vienna Stock Exchange. Leading shareholders are Cross Industries AG, with more than 50 percent, and Polaris Austria, with about 25 percent.
Approximately 20 percent is in Free-Float and the Hofer Private Foundation owns about 5 percent.
The dominating company of the KTM Group, which consists of 19 other companies, KTM Power Sports AG indirectly owns 99.77 percent of KTM-Sportmotorcycle AG, the actual manufacturer of motorcycles.
Cross said the buyback from...
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