According to Reuters and Dow Jones News Agency reported on February 11, BMW AG said on Friday that the company's shareholding in BMW Brilliance Automobile Co., Ltd. increased from 50% to 75%, effective immediately.
BMW said this would have a one-time positive impact of 7-8 billion euros on the financial performance of its automotive division and increase free cash flow by around 5 billion euros.
According to previous reports, Qi Yumin, chairman of Brilliance Automotive, said in October last year that the Chinese and foreign shareholders of the joint venture auto company BMW Brilliance had reached an agreement that they would carry out equity delivery in 2022. BMW said at the time that it intended to increase the proportion from 50% to 75%. According to Bloomberg, Brilliance Auto will sell this part of the equity for 3.6 billion euros (about 28.8 billion yuan).
![Another domestic car company "fell"? It owes a huge debt of 62 billion yuan and sells its assets to Germany's BMW to survive[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)