HONG KONG - 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.
The privatisation would attract other Chinese state-backed investors and could kick off as soon as the fourth quarter of the year, said two of the people. Brilliance, Liaoning Transportation Investment Group, the provincial state asset regulator and BMW did not immediately respond to requests for comment. The sources declined to be identified as the matter was confidential.
The regulator supports the take-private proposal and the Transportation Investment Group has talked to several banks for the deal financing, said three of the people.
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