October 10, 2018 / 11:56 PM / 8 days ago

BMW Group increases stake in its joint venture with China's Brilliance Automotive

Oct 11 (Reuters) - The BMW Group said on Thursday it plans to increase its stake in its Chinese joint venture with partner Brilliance Automotive from 50 percent to 75 percent.

BMW said the deal is valued at 3.6 billion euros ($4.15 billion).

The term of the joint venture is to be extended to 2040 from 2028, the German automaker said. ($1 = 0.8673 euro) (Reporting by Gaurika Juneja in Bengaluru)

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