BMW is buying Community Financial, according to Bloomberg

BMW is buying Community Financial, according to Bloomberg

September 18, 2021 Comments Off on BMW is buying Community Financial, according to Bloomberg By admin

The BMW Group of Companies said Monday that it would buy Community Financial and sell it to the company that owns it.

The purchase price was not disclosed.

The deal is expected to close in the fourth quarter of 2018.

The financial services firm, which has about $6 billion in assets under management, had assets under its control of about $5.6 billion at the end of last year, according the latest filings from the U.S. Securities and Exchange Commission.

BMW declined to disclose the price it paid for the firm.

The move would mark a turnaround for the German automaker that has been struggling with a $14 billion loss since the second quarter of this year.

BMW said last month that it is closing its business unit for the fourth consecutive year, but that it still plans to stay open for business in the coming years.

The BMW unit was the largest part of BMW’s financial services arm, which provides financial advisory services for automakers, suppliers, suppliers’ suppliers and other customers.

BMW’s Financial Services division includes both financial and customer advisory services.

The bank has about 200 employees in Europe and Asia, including in China.

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