Beijing (ZXZC)- BMW China Investment Ltd. (BMW China) has signed agreement with Brilliance China Automotive Holdings Ltd. (Brilliance Auto) to acquire Brilliance Motor Co., Ltd., a manufacturing unit of the Chinese group, according to an announcement of the Anti-Monopoly Bureau of China’s State Administration for Market Regulation.

Photo credit: Brilliance Auto

The publicity period of the deal starts from October 20 and ends at October 29. When the deal completes, Brilliance Motor will be wholly owned by BMW China. Brilliance Auto is BMW’s joint venture partner in China.

Brilliance Motor, founded in December, 2019, has businesses covering the development, design, manufacturing and sales of different vehicles. Before the deal, Brilliance Auto has 100% stake of the manufacturing subsidiary.

Earlier this year, BMW China denied the rumor that it would acquire the Zhonghua brand from Brilliance Auto, but the deal to buy Brilliance Motor is in the middle of getting approval from relevant departments.

The manufacturing unit is expected to expand BMW’s manufacturing capability in China and enhance its business in Liaoning province, where Brilliance BMW is headquartered. Last month, Oliver Zipse, Chairman of the Board of Management of BMW AG, said that the German company will invest another RMB25 billion in the future in Shenyang, the provincial capital of Liaoning province.