© Reuters. Paris Auto Show

(Reuters) – The BMW Group (DE:) said on Thursday it plans to increase its stake in its Chinese joint venture with partner Brilliance Automotive (HK:) from 50 percent to 75 percent.

BMW said the deal is valued at 3.6 billion euros (£3.1 billion).

The term of the joint venture is to be extended to 2040 from 2028, the German automaker said.

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