On February 11, the BMW Group announced that, starting today, the new joint venture contract between BMW Brilliance Automobile Co., Ltd. (hereinafter referred to as "BMW Brilliance") in China will come into effect, and the validity period of the joint venture between bmw group and its Chinese partners will be extended to 2040.
According to the new joint venture contract, from February 11, 2022, the BMW Group's shareholding in BMW Brilliance will be changed to 75%, and the remaining 25% of the shares will be indirectly held by its partner Brilliance China Automotive Holding Co., Ltd.
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.
Previously, in October 2018, Brilliance China announced that BMW had made a request to the Company to acquire a 25% stake in BMW Brilliance from Shenyang Jinbei Automobile, so that after the closing (which is expected to be carried out no later than 2022), BMW Brilliance Will be owned by Shenyang Jinbei Automobile and BMW Shiyi respectively by 25% and 75%.
In addition, on August 31 last year, it was reported that BMW Group would invest 1.633 billion yuan to acquire the "Zhonghua" factory. However, in November, a Brilliance Group insider revealed to Tencent Automobile that "the acquisition of the Zhonghua factory by BMW has been stopped, and the BMW-related staff in the Zhonghua workshop has been withdrawn." ”
In response to the above news, Tencent Auto asked BMW China for verification, and the official said that "BMW will continue to promote this project in accordance with national policies and regulations."
On October 20 last year, the website of the Anti-Monopoly Bureau of the State Administration for Market Regulation announced the acquisition of the equity of Brilliance Automotive Manufacturing Co., Ltd. by BMW (China) Investment Co., Ltd.
According to the documents, Brilliance Automotive Group Holdings Limited currently holds a 100% stake in Brilliance Automotive Manufacturing Co., Ltd., thus controlling Brilliance Manufacturing alone. BMW (China) Investment Co., Ltd. has signed an equity sale and purchase agreement with Brilliance Group to acquire all of Brilliance Manufacturing's shares. After the proposed transaction, BMW China will control Brilliance Manufacturing alone. (Text/Tencent Auto Boyan)
![BMW re-exposed MINI domestic plans or will be put into production in Shenyang[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)