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. Last Updated: 07/27/2016

Rover Sale Due Soon

MUNICH, Germany -- German luxury car maker BMW AG said Tuesday it plans to complete the sale of its loss-making British Rover Cars subsidiary to British venture capital group Alchemy Partners within the next six to eight weeks.

Germany's third-biggest car maker also planned to complete the $3 billion sale of its British Land Rover division to Ford Motor Co. by the middle of the year, BMW's chief financial officer Helmut Panke said at the company's annual news conference.