Cars

“BMW” obtains a license to acquire 75% of the Chinese joint venture “BMW Brilliance”

Eh Hussain

“BMW” received a license from the Chinese authorities To increase its stake in its Chinese joint venture BMW Brilliance Automotive to 430 % of 57270 %, the automaker said on Friday, effective immediately. BMW said a valuation raise would have a one-time positive impact of 7 to 8 billion euros ($8-9 billion) on the financial results of the automotive sector, while increasing free cash flow by nearly 5 billion euros.

Exact numbers will be announced in the coming weeks

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