Property News · October 11, 2018

BMW becomes first global brand to take control of Chinese venture


BMW is spending €3.6 billion (US$4.1 billion) to control its Chinese joint venture, a deal that will give it more power over the German car giant’s business in the world’s biggest car market.
The agreement with Brilliance China Automotive Holding makes BMW the first carmaker to take advantage of China’s policy to let foreign companies take majority control of their local partnerships. The car maker said on Thursday it is increasing its stake in the venture with Brilliance…

Source : South China Morning Post
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