BMW: Intends to Increase Stake to 75% From 50% in China Joint Venture With Brilliance China

  • Partners Have Signed Corresponding Agremeent

  • Deal Subject to Authorities' Approval, Consent of Brilliance China Shareholders' Meeting

  • Partners Agreed on a Purchase Price of an Equivalent of EUR3.6 Billion for BMW's Additional JV Stake

  • Extended Contract Is Valid for 22 Years, From 2018 to 2040; The JV's Existing Contractual Term Was Set to Expire in 2028

  • JV to Invest More than EUR3 Billion in New, Existing Plant Structures in Shenyang Over Coming Years

  • 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

  • Intends to Continue to Expand China Localization of Additional Models Including New Energy Vehicles, or NEVs

  • 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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