BMW Group: CBA General Meeting Approves Stake Sale - Quick Facts

(RTTNews) - BMW Group announced that a Special General Meeting of Brilliance China Automotive Holdings Ltd. approved the sale of a 25 percent shareholding in BBA to the BMW Group with around 63 percent of the represented shareholders voted in favor. The BMW Group previously announced its intention to increase its stake in BBA from 50 percent to 75 percent and both partners signed a corresponding agreement.

The company noted that, from the early 2020s, the total annual production capacity of BMW automobiles at the BBA plants will gradually increase to 650,000 units, creating 5,000 new jobs.