FRANKFURT — BMW has announced it is selling off $356.8 million of its stock in the aircraft engine company Rolls-Royce. The company didn't say who the buyer was but said the sale will cut BMW's stake in the company from 9 percent to 3.3 percent.
The move has to do with BMW's finances and not with any of its carmaking operations, which include building Rolls-Royce cars, as the current stock sale involves the builder of engines, based in London.
What this means to you: A company as financially astute as BMW probably has a plan, even if it's not obvious to everyone what it is.
From Inside Line
The move has to do with BMW's finances and not with any of its carmaking operations, which include building Rolls-Royce cars, as the current stock sale involves the builder of engines, based in London.
What this means to you: A company as financially astute as BMW probably has a plan, even if it's not obvious to everyone what it is.
From Inside Line
