The closing will result in BBA being fully consolidated in the BMW AG’s Group financial statements and is accordingly expected to have a significant positive valuation effect in the financial year in which the deal closes.ġ CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. This transaction is subject to the approval of the relevant authorities and the consent of the CBA Shareholders’ Meeting.īased on the current situation, the deal is scheduled to close in 2022, the year in which the joint venture requirement for auto manufacturing in China ends. HKST Delayed quote HK 3.940 0.080 2.07 Previous Close HK3.860 Advanced Charting Volume: 13.73M. Bloomberg HONG KONG - The parent of BMW's joint venture partner in China, Brilliance Auto Group Holdings Co., is facing mounting scrutiny from investors who are increasingly worried about the. Watch list Closed Last Updated: 4:08 p.m. The prerequisite for the aforementioned strategic steps in China is the acquisition of the additional shares. Brilliance China Automotive Holdings Ltd. The strategic goal pursued by the BMW Group is to further strengthen its long-term cooperation with CBA, increase production capacity at the existing sites in Shenyang and continue to expand the localization of additional models including ‘new energy vehicles’ (‘NEVs’). The contractual term of the joint venture, which would currently expire in 2028, is to be extended to 2040 as part of the agreement. The two partners agreed on a purchase price of an equivalent of 3.6 billion euros. (‘CBA’), to acquire an additional 25 percent shareholding in BBA. The company has signed an agreement with its joint venture partner, a subsidiary wholly owned by Brilliance China Automotive Holdings Ltd. (‘BBA’) joint venture from 50 percent to 75 percent. Its products include minibuses, sedans, and automotive. is an investment holding company, which is engaged in the manufacture and sale of automobiles. It is one of the largest state-owned companys in the northeastern province, employing 47,000 people. Brilliance China Automotive Holdings Ltd. Brilliance China Automotive Holdings Ltd 01114 Stock Quote Morningstar Rating Rating as of Quote Chart Stock Analysis News Price vs Fair Value Sustainability Trailing Returns. The BMW Group intends to increase its stake in the BMW Brilliance Automotive Ltd. Brilliance Autos history dates back to 1949 when the Peoples Republic of China was founded. 'Gold Cup') is a Chinese automobile marque owned by Renault Brilliance Jinbei Automotive Co., Ltd., a joint venture between Brilliance Auto (51) and Renault (49) established in December 2017 and based in Shenyang, Liaoning, China.
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