BMW reaches deal to sell Rover brand rights

Newswire

MUNICH, Aug 22 (Reuters) - Germany's BMW , the world's largest premium carmaker, has reached a deal to sell the rights to the Rover brand, the company said on Tuesday, but it did not name the buyer. "A binding agreement was made," a spokesman for BMW said, confirming a report in German financial daily Handelsblatt. BMW licensed the Rover brand to British investors in 2001 as part of a deal to dispose of MG Rover, while selling the Land Rover brand to Ford . The Munich-based carmaker ...

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