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

(Reuters) - The BMW Group said on Thursday it plans to increase its stake in its Chinese joint venture with partner Brilliance Automotive <1114.HK> 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)