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- BMW: Intends to Increase Stake to 75% From 50% in China Joint Venture With Brilliance China
BMW: Intends to Increase Stake to 75% From 50% in China Joint Venture With Brilliance China
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Partners Have Signed Corresponding Agremeent
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Deal Subject to Authorities' Approval, Consent of Brilliance China Shareholders' Meeting
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Partners Agreed on a Purchase Price of an Equivalent of EUR3.6 Billion for BMW's Additional JV Stake
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Extended Contract Is Valid for 22 Years, From 2018 to 2040; The JV's Existing Contractual Term Was Set to Expire in 2028
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JV to Invest More than EUR3 Billion in New, Existing Plant Structures in Shenyang Over Coming Years
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Total Annual Capacity of BMW Autos at JV Plants to Gradually Increase to 650,00 Units Starting in Early 2020s, Creating 5,000 New Jobs
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Intends to Continue to Expand China Localization of Additional Models Including New Energy Vehicles, or NEVs
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Deal's Closing to Result in JV Being Fully Consolidated in BMW Group's Financial Statements; Expected to Have Positive Valuation Effect in FY of Closing
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