Home / India News / BMW Group increases stake in its joint venture with China's Brilliance Automotive

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

Last Updated : Oct 11 2018 | 7:10 AM IST

(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)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Oct 11 2018 | 6:54 AM IST