BMW announced that it has cut its stake in Rolls-Royce's engine operations by almost two-thirds from 9 percent to 3.25 percent, putting BMW ahead by an expected 300 million euros this quarter as a result. No word yet on who bought the shares, but BMW reportedly unloaded them earlier this week. The move concerns the company's powertrain business in planes, helicopters, and boats, and shouldn't have an effect on Rolls-Royce's automobile operations.
[Source: Chron.com]
[UPDATE: The stake which BMW sold was of the Rolls-Royce aero engine manufacturer. BMW licenses the Rolls Royce car brand from the aero engine manufacturer, which is expected not to change as a result of the sale.]
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