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3/10, 5:36 PM (Source: TeleTrader)
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BMW St.-0.92%

77.38
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BMW announces ALPINA brand acquisition

BMW announced on Thursday that it is acquiring the ALPINA brand from Alpina Burkard Bovensiepen GmbH und Co. KG.

The auto giant has cooperated with Alpina for decades, and, now, Alpina will become a part of the BMW Group. "The cooperation will continue – but in a different form: The company owned by the Bovensiepen family will continue to use its engineering expertise in developing, manufacturing, and selling BMW ALPINA vehicles within the existing cooperation until the end of 2025," BMW stressed.

The transaction is subject to "various suspension conditions," including regulatory approval and financial details of the deal were not disclosed.

Baha Breaking News (BBN) / NP