BMW Group increases stake in its joint venture with China's Brilliance Automotive

Image
Reuters
Last Updated : Oct 11 2018 | 7:10 AM IST

(Reuters) - The BMW Group said on Thursday it plans to increase its stake in its Chinese joint venture with partner Brilliance Automotive from 50 percent to 75 percent.

BMW said the deal is valued at 3.6 billion euros ($4.15 billion).

The term of the joint venture is to be extended to 2040 from 2028, the German automaker said.

(Reporting by Gaurika Juneja in Bengaluru)

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Oct 11 2018 | 6:54 AM IST

Next Story