BMW receives license to take 75% stake in China joint venture BMW Brilliance Automotive

BMW has received the license from Chinese authorities to increase its stake in its Chinese joint venture BMW Brilliance Automotive to 75% from 50%, the carmaker said on Friday, effective immediately.

The revaluation would lead to a positive one-off effect of 7 to 8 billion euros ($8-9 billion) to the financial results of its automotive segment, BMW said, with an increase to free cash flow of around 5 billion euros.

Precise figures will be released in coming weeks.

($1 = 0.8781 euros)