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BMW to Take Control of China JV in $4 Billion Deal

Last updated on October 30, 2018

BMW will pay €3.6bn to increase its stake in a Chinese joint venture to 75 per cent by 2022, following Beijing’s relaxation of investment restrictions in the automotive sector, which will hand foreign companies more control in the world’s largest car market.

In April, Beijing announced it would ease decades-old restrictions — requiring foreign vehicle manufacturers to form joint ventures with Chinese partners and capping ownership at 50 per cent — by the year-end for electric vehicles . . .

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