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BMW to buy control of China venture in 'new era' for foreign carmakers

BMW to buy control of China venture in 'new era' for foreign carmakers

Publicerat av Tony Harkén lördag, 13 oktober 2018.

Germany's BMW will pay 3.6 billion euros (US$4.2 billion) to take control of its main joint venture in China, the first such move by a global carmaker as Beijing starts to relax ownership rules for the world's biggest auto market.

The luxury carmaker said on Thursday it would increase its stake in its venture with Brilliance China Automotive Holdings Ltd to 75 percent from 50 percent, with the deal closing in 2022 when rules capping foreign ownership for all auto ventures are lifted.

Read more at - www.channelnewsasia.com/news/business/bmw-to-buy-control-of-china-venture-in--new-era--for-foreign-carmakers-10819416

Publicerat av

Tony Harkén

kina

Klockan i Hong Kong, Kina

CN - Time