(Reuters) – 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)
(Reporting by Victoria Waldersee; Editing by Maria Sheahan)
