New Delhi, May 23 -- Bajaj Auto Ltd is doubling down on its strategy to increase its international business as it acquired a controlling stake in the Austrian motorcycle company that sells motorcycles under the KTM brand. Under the transaction announced on Thursday, Bajaj will infuse €600 million into the company through debt funding, while €200 million has already been invested since FY24, taking the total amount of the deal to €800 million (Rs.7,778 crore). The infusion of funds is intended to pay off KTM's creditors. The transaction was informed to the exchanges just 24 hours before the deadline on which the motorcycle brand was supposed to deposit €548 million (Rs.5,324 crore) it owed to creditors. Bajaj, through its Netherlands-based subsidiary Bajaj Auto International Holdings BV, has taken the entire stake in Pierer Bajaj AG (PBAG), increasing its shareholding from 49.9% earlier. The 49.9% stake in PBAG gave Bajaj indirect control of a 37% stake in KTM. This was because PBAG held 75% in the parent company of the KTM business, Pierer Mobility AG (PMAG). After the acquisition of the entire stake in PBAG, Bajaj's stake in KTM will be 75%. Notably, PMAG is listed on the Austrian stock exchange. "Bajaj will shift gears from hitherto being a dormant minority investor to a majority owner in the global KTM company," Bajaj told the exchanges. After witnessing a decline in sales, KTM filed for insolvency and applied for judicial restructuring proceedings in November 2024. It was accepted by creditors on 25 February. Under it, creditors were supposed to receive 30% of their claims in a one-time payment by 23 May. As the deadline approached, the brand needed funding to pay off its creditors. On 16 May, Bajaj announced in an exchange filing that it was receiving unsecured loans worth €566 million. At the end of the October-December 2024 period, Bajaj reported surplus funds of Rs.15,000 crore on its balance sheet....