TELETRADER News
2/11/2022, 12:48 PM
(Source: TeleTrader)
BMW St.+1.50%
BMW takes over 75% of Brilliance Automotive
Bayerische Motoren Werke (BMW) AG announced on Friday that it will increase the shareholding in BMW Brilliance Automotive Ltd. (BBA) from 50% to 75% by February 11, 2022.
The reassessment of the current 50% stake in BBA will have a positive effect on the Automotive segment's financial result of between €7 billion and €8 billion. "Automotive segment revenues and EBIT will increase significantly. Due to consolidation effects, no significant impact on the Automotive EBIT margin is expected in the financial year 2022," said the company in a statement.
The acquisition price is expected to be fully paid by February 22, 2022. The company will publish further details on the complete consolidation of BBA in the group report next March.