The BMW Group recorded its best ever quarterly sales volume and net profit figures between April and June. Harald Krüger, Chairman of the Board of Management of BMW AG, said, ‘We sold more vehicles in the second quarter than ever before and achieved record earnings. We are growing profitably while simultaneously implementing our strategy step [...]

Uber China with Didi Chuxing have agreed terms to merge the two ride-hailing mobility services in China. In the move, Didi will acquire Uber China and see Uber exit the country, although continue to oversee its own app. The merger will value Didi at $35 billion. Uber China investors will get a 20% stake in [...]

Axalta Coating Systems has opened its new Europe, Middle East and Africa (EMEA) headquarters in Basel, Switzerland. Members of Axalta’s EMEA leadership team, who had been located in different offices, have all been in the new Swiss premises as of 1 July 2016 when the regional headquarters became fully operational. Matthias Schönberg, Axalta vice president [...]

The offer of Carlyle Group’s shares in Axalta Coatings Systems is expected to end today. Axalta announced last week Carlyle was selling its 41,621,996 common shares in the company, which equates to about a 17% stake. Axalta will not receive any of the proceeds of the share offering, and following the sale Carlyle Group will [...]

Axalta Coating Systems has acquired the business of Geeraets Autolak, a distributor of Axalta’s Cromax refinish coating products in the Netherlands for nearly 40 years. The operations of Geeraets Autolak will be integrated into the Axalta organisation, operating under the Cromax name. The acquisition takes effect immediately. Financial terms of the agreement were not disclosed. [...]