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4-Traders Homepage  >  Equities  >  Xetra  >  Bayerische Motoren Werke    BMW   DE0005190003

BAYERISCHE MOTOREN WERKE (BMW)
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Bayerische Motoren Werke : BMW says developing joint venture with China's Brilliance

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07/12/2018 | 10:43am CEST
FILE PHOTO: The BMW logo is seen on a vehicle at the New York Auto Show in New York

FRANKFURT (Reuters) - German carmaker BMW said it was developing its joint venture with China's Brilliance but did not confirm reports it would raise its stake in BMW Brilliance Automotive (BBA).

"We cannot comment in detail on the state of our ongoing discussions with our partner Brilliance at this point in time," BMW said in an e-mailed statement on Thursday.

German business magazine Manager Magazin said BMW was to increase its stake in BBA to at least 75 percent from 50 percent. Bloomberg News reported a new ownership structure was to be unveiled soon, citing a person familiar with the plan.

The news comes two weeks after China unveiled a long-anticipated easing of foreign investment curbs on the automotive industry and other sectors, as Beijing moves to fulfil its promise to open its markets further.

Foreign ownership limits for passenger car manufacturing will be removed by 2022.

Manager Magazin said BMW Chief Executive Harald Krueger and Brilliance Chairman Yumin Qi had agreed on the stake hike by BMW during a visit by Premier Li Keqiang to Germany this week.

BMW had announced on Monday and Tuesday a raft of agreements with Chinese partners, including a production capacity increase at BBA, but had not mentioned any plans to increase its holding in the venture.

(Reporting by Ilona Wissenbach and Maria Sheahan; Editing by Edmund Blair)

Stocks mentioned in the article
ChangeLast1st jan.
BRILLIANCE CHINA AUTOMOTIVE HOLDING LTD. -2.06% 11.4 End-of-day quote.-45.32%
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Financials (€)
Sales 2018 99 215 M
EBIT 2018 9 847 M
Net income 2018 7 595 M
Finance 2018 21 600 M
Yield 2018 5,07%
P/E ratio 2018 6,94
P/E ratio 2019 6,74
EV / Sales 2018 0,30x
EV / Sales 2019 0,29x
Capitalization 51 804 M
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Bayerische Motoren Werke Technical Analysis Chart | BMW | DE0005190003 | 4-Traders
Technical analysis trends BAYERISCHE MOTOREN WERKE
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 29
Average target price 94,3 €
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
Harald Krüger Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
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