The Indian government has cleared a BMW proposal to acquire the 30% stake in its Indian subsidiary held by two partners, according to a local newspaper report on Thursday.
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BMW India will then become a 100% subsidiary of BMW AG and BMW Holdings, the Economic Times reported.
The 30% stake was held by investors Ravindra Nath and Satish Kumar Narula.
Under a new plan, BMW India will assemble cars from imported completely CKD kits and would also import some models completely built up, the paper said.
