In­vestors may take BMW’s China part­ner pri­vate

Arab News - - Business News -

Chi­nese state-backed in­vestors are con­sid­er­ing tak­ing BMW’s main Chi­nese joint-ven­ture part­ner Bril­liance pri­vate, five peo­ple with knowl­edge of the mat­ter told Reuters, in the lat­est such deal tar­get­ing beaten down Hong Kong-listed stocks. Bril­liance’s shares re­versed losses and rose as much as 12.3 per­cent to HK$7.86, their high­est since Aug 17, fol­low­ing the news re­port.

Bril­liance China Au­to­mo­tive Hold­ings Ltd. has a mar­ket value of $4.6 bil­lion and the deal to take it pri­vate would be led by state-con­trolled Liaon­ing Pro­vin­cial Trans­porta­tion In­vest­ment Group, which owns 12 per­cent of Bril­liance, said the peo­ple.

The pri­va­ti­za­tion would at­tract other Chi­nese state-backed in­vestors and could kick off as soon as the fourth quar­ter of the year, said two sources.

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