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Article: Rolls-Royce to Assume Full Control of BMW Rolls-Royce Joint Venture; BMW to Increase its Stake in Rolls-Royce to 10%.
- Article from:
- PR Newswire
- Article date:
- October 25, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON, Oct. 25 /PRNewswire/ -- Rolls-Royce plc ("Rolls-Royce") the aerospace, marine and energy group, and BMW AG ("BMW") announce today that they have reached agreement on a repositioning of their strategic relationship. Rolls-Royce will take full control of BMW Rolls-Royce GmbH ("BMW Rolls-Royce") and BMW intends to increase its equity investment, through further market purchases, in Rolls-Royce to just over 10 percent. The two companies also intend to co-operate in areas such as research and technology, purchasing and logistics.
BMW Rolls-Royce, formed in 1990 as a joint venture to develop the BR700 series of engines for the corporate and regional airline ...