Pierer Industrie AG's Restructuring Plan Approved, KTM Vote Ahead

Pierer Industrie AG's restructuring plan has been approved by creditors, marking a critical step toward the potential revival of KTM AG, which is grappling with debts exceeding €2 billion. The approval, which took place at the Wels Regional Court, allows Pierer to undertake a European restructuring procedure aimed at regaining financial stability while postponing repayment deadlines for its obligations. KTM is set to undergo a crucial vote on its own restructuring plan next Tuesday, which, if approved, will require it to repay 30% of its debts by the end of May, an accelerated timeline facilitated by investments totaling nearly €900 million from over 20 parties. As part of the restructuring, Pierer has secured financing of just under €250 million, with a repayment plan extending through 2027. The restructuring process is viewed positively by the Alpine Creditors Association and is seen as an opportunity for both debtors and creditors to benefit. There are hopes that production at KTM's facility may resume by mid-March following these developments.