BMW China JV Stake Increase Approved
18 January 2019 - 8:24AM
Dow Jones News
By Nathan Allen
BMW AG (BMW.XE) said Friday that shareholders in Hong Kong voted
in favor of the group's proposal to increase its stake in the BMW
Brilliance Automotive joint venture in China.
BMW said in October that it wanted to increase its ownership of
the JV to 75% from 50%, following the relaxation of restrictions on
foreign-ownership of China-based companies.
The stake increase is set to complete in 2022, when China fully
lifts the requirement for auto makers in the country to operate as
part of a joint venture with a local partner.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
January 18, 2019 03:09 ET (08:09 GMT)
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