Exclusief: Staatsbeleggers zijn van plan om particuliere, in het HK genoteerde BMW China-partner Brilliance te nemen, zeggen bronnen – Reuters UK

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HONG KONG/SHANGHAI (Reuters) – Chinese state-backed investors are considering taking BMW’sBMWG.DEmain 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.

FILE PHOTO: A view shows a parking lot of Chinese carmaker Brilliance Automotive in Shenyang, Liaoning province, November 9, 2009. REUTERS/Sheng Li/File Photo

Shares in Brilliance China Automotive Holdings Ltd1114.HKreversed losses and rose as much as 12.3% to HK$7.86 on Wednesday afternoon, their highest since Aug. 17, following the news. The company has a market value of $4.6 billion.

The deal to take it private would be led by state-controlled Liaoning Provincial Transportation Investment Group, which owns 12% of the automaker, the sources said.

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.

Liaoning’s state asset regulator and Brilliance’s parent, Huachen Automotive Group [LNGOVC.UL], said they had not obtained any relevant information about Liaoning Transportation Investment Group considering leading the deal.

Brilliance, Liaoning Transportation Investment Group and BMW did not immediately respond to requests for comment. The sources declined to be identified as the matter was confidential.

Based in northeastern Liaoning province, Brilliance is 30% owned by Huachen Group, which is majority-owned by the provincial state asset regulator.

The regulator supports the proposal and Liaoning Transportation Investment Group has talked to several banks about financing, said three of the people.

Prospective investors believe Brilliance is undervalued in Hong Kong, the sources said, as the automaker is trading at 3.67 times expected earnings, way below the industry’s median multiple of 14.4, according to Refinitiv data.

Hong Kong’s market has also underperformed major peers so far this year, with the blue-chip Hang Seng Index.HSIdown 16% as of Wednesday, compared with a 14% gain for China’s CSI 300. Brilliance shares have fallen 10% in the same period.

The privatisation would come ahead of BMW buying another 25% to take control of the JV – BMW Brilliance Automotive (BBA) – for 3.6 billion euros ($4.2 billion) in 2022.

Based on that offer, Brilliance’s current 50% stake in the venture, which contributed to almost all the listed firm’s profit in 2019, would be worth 7.2 billion euros ($8.4 billion), 83% higher than its market value. Its stake will halve to 25% after BMW increases its share.

While the take-private proposal will not impact BMW’s plan to increase its stake in the JV, Brilliance’s valuation is likely to weaken after it loses control of the venture even though it is likely to remain profitable, the sources said.

Hong Kong-listed companies have announced take-private deals worth $17.8 billion so far this year, more than double last year’s annual volume, often citing undervalued shares as a reason. The average premiums paid by buyers for those deals jumped to 46% in 2019 and this year, from 34% in 2018, according to Refinitiv data.

Brilliance also owns 51% of a venture with France’s Renault SARENA.PAmaking vans and sport-utility vehicles, and a stake in an auto-financing firm.

It has yet to be decided if Huachen Group plans to divest its stake in Brilliance, said the people, adding the Liaoning government is planning a major restructuring of the debt-laden group.

Huachen’s debt totalled 133 billion yuan ($19.6 billion) as of the end of June, with short-term borrowings reaching 16.5 billion yuan. Its cash balance was 32.6 billion yuan, versus 37.8 billion yuan at the end of 2019.

Reporting by Julie Zhu in Hong Kong and Yilei Sun in Beijing; Editing by Sumeet Chatterjee and Stephen Coates

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BMW betaalt $ 18 miljoen Amerikaanse boete om opgeblazen verkoopprobleem op te lossen – Reuters India

BMW betaalt $ 18 miljoen Amerikaanse boete om opgeblazen verkoopprobleem op te lossen – Reuters India

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FILE PHOTO: The logo of German car manufacturer BMW is seen at the company headquarters in Munich, Germany, May 14, 2020. REUTERS/Andreas Gebert

WASHINGTON (Reuters) – BMW AG and two U.S. subsidiaries agreed Thursday to pay an $18 million (£14.1 million) U.S. fine to resolve accusations that they disclosed misleading information about the German luxury automaker’s retail sales volume in the United States while raising approximately $18 billion from investors in corporate bond offerings.

The U.S. Securities and Exchange Commission said from 2015 to 2019, BMW inflated reported U.S. retail sales, which helped BMW close the gap between actual retail sales volume and internal targets and “publicly maintain a leading retail sales position relative to other premium automotive companies.”

It added BMW of North America “maintained a reserve of unreported retail vehicle sales — referred to internally as the ‘bank’ — that it used to meet internal monthly sales targets without regard to when the underlying sales occurred.”

The SEC probe started in late 2019, BMW said.

“There is no allegation or finding in the Order that any BMW entity engaged in intentional misconduct,” BMW said in a statement, adding it “attaches great importance to the correctness of its sales figures and will continue to focus on thorough and consistent sales reporting.”

The SEC said BMW “paid dealers to inaccurately designate vehicles as demonstrators or loaners so that BMW would count them as having been sold to customers when they had not been.”

“BMW misled investors about its U.S. retail sales performance and customer demand for BMW vehicles in the U.S. market while raising capital in the U.S.,” said Stephanie Avakian, the SEC director of the division of enforcement.

In September 2019, Fiat Chrysler Automobiles NV and its U.S. unit agreed to pay $40 million for misleading investors about its monthly sales figures to resolve a separate SEC probe.

Reporting by Mohammad Zargham and David Shepardson; Editing by Sandra Maler and David Gregorio

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YouTube-artiest “repareert” nieuw BMW M4-ontwerp, zegt dat de M3 er beter uitziet – auto-evoluti

YouTube-artiest “repareert” nieuw BMW M4-ontwerp, zegt dat de M3 er beter uitziet – auto-evoluti

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The oversized grille on thenew BMW M4must have been criticized a million times. But after seeing this hot new sports coupe during its official debut, you began to understand what the Germans were going for – in-your-face styling.

After a controversial or very important car debut, there’s nothing better than a YouTube video by TheSketchMonkey to discuss the design or “fix” the problem. And in the case of the M4, he argues that the grille itself isn’t the main problem. Also, apparently, the M3 is better looking than the M4.

His two cents is that the M4 has three shoulder lines (on each side), so it looks like the car has a broken collarbone… something to do with wrinkled paper… we don’t really get it. But seriously, that car could have toes for door handles, and you wouldn’t notice.

On this subject, we don’t quite agree. Sports cars are supposed to look a little weird. Objectively speaking, a Lamborghini Countach is strangely shaped, but in its winged wedge magnificence, it became the coolest supercar of its era.

Just like the Countach, the M4 is a flashy shape, has strange lines and an aggressive stance. The M3’s sedan body struggles to compete in this dark green. Time will tell which one is more popular, and just to make things interesting, BMW is also making theM3 wagon.

But we’re actually here just to check out the Photoshop transformation video where the artist messes around with that front end to make it look different. Instead of going back to the old kidney grille design from the last M3, TheSketchMonkey chooses to make double squares, a bit like on the 7 Series, which proved to be a sales success.

We believe these M cars will also dominate sales charts. Not only do they offer class-leading performance and technology, but they are also more diverse than ever.

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Waarom ik een nieuwe BMW M4 of M3 krijg – motor redline rev test + 'review' – carwow

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Why I’m getting a new BMW M4 or M3 – engine redline rev test ‘review’ – YouTube

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BMW's motorsportdivisie kondigt eerste elektrische auto aan op basis van de i4

BMW's motorsportdivisie kondigt eerste elektrische auto aan op basis van de i4

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“Next year we will launch the first battery-electric M car in the performance segment, based on the i4, as something to confirm. Then we’re working on hybrid electrified performance and high-performance cars, but it is too early to disclose which ones it is going to be.”

AsCarAdvicenoted, it likely means that the vehicle will be sportier than the standard i4 but won’t be able to match the division’s “high-performance” models, such as the BMW M3 and M4. Flasch explained that current battery technologies still don’t have the capability to power its high-performance cars and that it will take more time to design one that can. The company still has to figure out a few more things to be able to develop a full-blown M EV, as well: “[T]he biggest question to answer is,” he said, “how to handle weight of a battery electric car and still offer M-specific, or M-style, dynamics.”

The CEO didn’t have a lot of details to share about the car, but if it’s a sportier i4, then we can probably expect better specs than the standard version. BMW previously revealed that the i4 will have a 390 kW motor that can accelerate from zero to 60 miles per hour in about four seconds. It will have a max speed of 124 miles per hour and an 80 kWh battery that will give it the capability to run for approximately 373 miles on a single charge. The standard i4 is expected to be available in 2022, which means you may have to wait more than a couple of years before the M version comes out.

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2021 BMW M3 en M4 | Eerste blik | Driving.ca – Driving.ca

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2021 BMW M3 and M4 | First Look | Driving.ca – YouTube

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BMW Championship, ronde 2: Leaderboard, starttijden, tv-tijden – pgatour.com

BMW Championship, ronde 2: Leaderboard, starttijden, tv-tijden – pgatour.com

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The second leg of the FedExCup Playoffs are here. Round 2 of the BMW Championship from Olympia Fields takes place today. Here’s everything you need to know to follow the action.

Round 2 leaderboard
Round 2 tee times


HOW TO FOLLOW

Television:Thursday-Friday, 3 p.m.-7 p.m. ET (Golf Channel). Saturday, 12 p.m.-3 p.m. (Golf Channel), 3 p.m.-6 p.m. (NBC). Sunday, 1 p.m.-3 p.m. (Golf Channel), 3 p.m.-7 p.m. (NBC).

PGA TOUR LIVE:Thursday-Friday 10:10 a.m.-7 p.m. (Featured Groups). Saturday, 8:15 a.m.-3 p.m. (Featured Groups), 3 p.m.-6 p.m. (Featured Holes). Sunday, 9:15 a.m.-3 p.m. (Featured Groups), 3 p.m.-7 p.m. (Featured Holes).

Radio: Thursday-Friday, 1 p.m.-7 p.m. Saturday, 1 p.m.-6 p.m. Sunday, 2 p.m.-7 p.m. (PGA TOUR Radio on SiriusXM and PGATOUR.com/liveaudio).


FEATURED GROUPS (All times ET)

Xander Schauffele, Rory McIlroy, Brendon Todd
Friday: 12:52 p.m. ET (No. 10 tee)

Collin Morikawa, Harris English, Bryson DeChambeau
Friday: 1:03 p.m. ET (No. 10)

Dustin Johnson, Justin Thomas, Daniel Berger
Friday: 1:58 p.m. ET (No. 1 tee)

Tiger Woods, Carlos Ortiz, Bubba Watson
Friday:2:09 p.m. ET (No. 1 tee)


MUST READS

Players comment on recent social injustice issues

Tiger Woods faces uphill climb to TOUR Championship

Matsuyama leads BMW Championship

Nine things to know about Olympia Fields

DeChambeau returns to site of 2015 U.S. Amateur


CALL OF THE DAY

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PGA Tour BMW Championship Scores – Reuters India

PGA Tour BMW Championship Scores – Reuters India

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Aug 27 (OPTA) - Scores from the PGA Tour BMW Championship on Thursday  -3  Hideki Matsuyama (Japan)         67  -2  Tyler Duncan (USA)               68  -1  Mackenzie Hughes (Canada)        69   0  Abraham Ancer (Mexico)           70      Tony Finau (USA)                 70      Matthew Fitzpatrick (England)    70      Lanto Griffin (USA)              70      Harry Higgs (USA)                70      Billy Horschel (USA)             70      Mark Hubbard (USA)               70      Rory McIlroy (Northern Ireland)  70      Sebastian Munoz (Colombia)       70      Carlos Ortiz (Mexico)            70   1  Patrick Cantlay (USA)            71      Joel Dahmen (USA)                71      Jim Herman (USA)                 71      Tom Hoge (USA)                   71      Viktor Hovland (Norway)          71      Dustin Johnson (USA)             71      Ryan Palmer (USA)                71   2  Dylan Frittelli (South Africa)   72      Brian Harman (USA)               72      Kevin Kisner (USA)               72      Adam Long (USA)                  72      Kevin Na (USA)                   72      Joaquin Niemann (Chile)          72      Alex Noren (Sweden)              72      Louis Oosthuizen (South Africa)  72      J.T. Poston (USA)                72      Adam Scott (Australia)           72      Brendan Steele (USA)             72      Michael Thompson (USA)           72      Bubba Watson (USA)               72      Matthew Wolff (USA)              72   3  Byeong Hun An (Korea Republic)   73      Daniel Berger (USA)              73      Paul Casey (England)             73      Bryson DeChambeau (USA)          73      Tyrrell Hatton (England)         73      Danny Lee (New Zealand)          73      Patrick Reed (USA)               73      Xander Schauffele (USA)          73      Justin Thomas (USA)              73      Brendon Todd (USA)               73      Tiger Woods (USA)                73   4  Adam Hadwin (Canada)             74      Russell Henley (USA)             74      Max Homa (USA)                   74      Jason Kokrak (USA)               74      Richy Werenski (USA)             74   5  Harris English (USA)             75      Charles Howell III (USA)         75      Matt Kuchar (USA)                75      Jon Rahm (Spain)                 75      Scottie Scheffler (USA)          75      Robby Shelton (USA)              75      Cameron Smith (Australia)        75      Nick Taylor (Canada)             75      Gary Woodland (USA)              75   6  Corey Conners (Canada)           76      Jason Day (Australia)            76      Talor Gooch (USA)                76      Collin Morikawa (USA)            76      Kevin Streelman (USA)            76   7  Cameron Champ (USA)              77      Sungjae Im (Korea Republic)      77      Andrew Landry (USA)              77      Maverick McNealy (USA)           77  10  Marc Leishman (Australia)        80

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Crowdfunded dongle brengt draadloze Android Auto naar meer auto's

Crowdfunded dongle brengt draadloze Android Auto naar meer auto's

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While wireless Android Auto will soon beeasier to find on phones, it’s another matter for cars. The cable-free tech is still rare outside of a few brandslike BMW. A crowdfunded project might change that, however. Developer Emil Borconi-Szdressy recentlylaunchedan Indiegogo campaign (viaXDAand9to5Google) for an AAWireless USB dongle that, as the name implies, adds wireless Android Auto to your existing car.

You’ll need a car infotainment system with wired Android Auto support. While that’s increasingly commonplace, it does rule out upgrading a beloved older ride. Patience will also be important, as it can take up to 40 seconds for the dongle to connect. Compatibility might also be an issue. Although the team is testing “as many cars and head units as possible” and believes it should work with any Android Auto-equipped car, the developers can’t guarantee that support at this stage.

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PGA Tour BMW Championship Scores – Reuters UK

PGA Tour BMW Championship Scores – Reuters UK

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Aug 27 (OPTA) - Scores from the PGA Tour BMW Championship on Thursday  -3  Hideki Matsuyama (Japan)         67  -2  Tyler Duncan (USA)               68  -1  Mackenzie Hughes (Canada)        69   0  Abraham Ancer (Mexico)           70      Tony Finau (USA)                 70      Matthew Fitzpatrick (England)    70      Lanto Griffin (USA)              70      Harry Higgs (USA)                70      Billy Horschel (USA)             70      Mark Hubbard (USA)               70      Rory McIlroy (Northern Ireland)  70      Sebastian Munoz (Colombia)       70      Carlos Ortiz (Mexico)            70   1  Patrick Cantlay (USA)            71      Joel Dahmen (USA)                71      Jim Herman (USA)                 71      Tom Hoge (USA)                   71      Viktor Hovland (Norway)          71      Dustin Johnson (USA)             71      Ryan Palmer (USA)                71   2  Dylan Frittelli (South Africa)   72      Brian Harman (USA)               72      Kevin Kisner (USA)               72      Adam Long (USA)                  72      Kevin Na (USA)                   72      Joaquin Niemann (Chile)          72      Alex Noren (Sweden)              72      Louis Oosthuizen (South Africa)  72      J.T. Poston (USA)                72      Adam Scott (Australia)           72      Brendan Steele (USA)             72      Michael Thompson (USA)           72      Bubba Watson (USA)               72      Matthew Wolff (USA)              72   3  Byeong Hun An (Korea Republic)   73      Daniel Berger (USA)              73      Paul Casey (England)             73      Bryson DeChambeau (USA)          73      Tyrrell Hatton (England)         73      Danny Lee (New Zealand)          73      Patrick Reed (USA)               73      Xander Schauffele (USA)          73      Justin Thomas (USA)              73      Brendon Todd (USA)               73      Tiger Woods (USA)                73   4  Adam Hadwin (Canada)             74      Russell Henley (USA)             74      Max Homa (USA)                   74      Jason Kokrak (USA)               74      Richy Werenski (USA)             74   5  Harris English (USA)             75      Charles Howell III (USA)         75      Matt Kuchar (USA)                75      Jon Rahm (Spain)                 75      Scottie Scheffler (USA)          75      Robby Shelton (USA)              75      Cameron Smith (Australia)        75      Nick Taylor (Canada)             75      Gary Woodland (USA)              75   6  Corey Conners (Canada)           76      Jason Day (Australia)            76      Talor Gooch (USA)                76      Collin Morikawa (USA)            76      Kevin Streelman (USA)            76   7  Cameron Champ (USA)              77      Sungjae Im (Korea Republic)      77      Andrew Landry (USA)              77      Maverick McNealy (USA)           77  10  Marc Leishman (Australia)        80

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