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Stefan Pierer, Mark Mateschitz, and Raiffeisen Oberösterreich have finalized their acquisition of a 50.1% majority stake in firefighting equipment supplier Rosenbauer, following the necessary approvals, including from Kuwait authorities. The takeover will be executed through a capital increase, despite only moderate interest in the mandatory offer from the free float.
The Austrian government, led by Chancellor Herbert Kickl, is implementing a €6.3 billion austerity package that disproportionately affects the underprivileged through new mass taxes and cuts to subsidies, risking job losses and economic stagnation. Business leaders are alarmed, warning that such measures could lead to significant job losses in key industries, while the banking sector exerts influence over government policies, prioritizing their interests over those of ordinary citizens. This coalition of right-wing extremism and capital threatens to undermine both economic stability and climate goals.
The Robau consortium, led by KTM founder Stefan Pierer, Red Bull heir Mark Mateschitz, and Raiffeisen Oberösterreich, has made a mandatory offer for all shares of fire-fighting vehicle manufacturer Rosenbauer at 35 euros per share. The consortium aims to acquire a 50.1 percent stake, ensuring a dominant majority, with the acceptance period running until February 14, 2025. Approval from Saudi Arabia, the UAE, and Kuwait is still pending for the acquisition via a capital increase, expected soon.
KTM boss Stefan Pierer, alongside Red Bull heir Mark Mateschitz and Raiffeisen Oberösterreich, is nearing the completion of the Rosenbauer takeover, acquiring 50.1% of shares. While competition authority approvals are pending in four Arab countries, a public anticipatory mandatory offer at EUR 35 per share is set for January 2025.
Günter Stadlberger, after two decades leading Raiffeisen Wels, is set to retire at 65. In a recent interview, he reflects on his tenure and the ongoing economic crisis, notably defending KTM boss Stefan Pierer while criticizing certain aspects of the current federal government.
Shares of Pierer Mobility AG plummeted 45% to 6.9 Swiss francs after its KTM AG unit filed for self-administered insolvency in Austria, citing an inability to meet a significant financing requirement. The company plans to negotiate a reorganization with creditors over the next 90 days, amid a broader industrial crisis and declining motorbike demand in Europe. Production will be restructured, with a reduction in output from Austrian sites projected to exceed €1 billion over the next two years.
Pierer Industrie AG is working to extend the maturity of nearly €250 million in debt due to financial challenges at its KTM motorcycle unit. The company, led by entrepreneur Stefan Pierer, has begun a restructuring process aimed at preventing creditors from demanding early repayment, without reducing their claims.
Stefan Pierer
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