NEW YORK and FRANKFURT,
Germany, July 25, 2016 /PRNewswire/ -- BNY Mellon, a
global leader in investment management and investment services, has
been appointed by BMW Group as depositary bank for its sponsored
American depositary receipt (ADR) program, replacing previously
unsponsored facilities. The ADRs will continue to trade on the U.S.
over-the-counter market under the symbol "BMWYY."
Based in Germany, the BMW Group
– with its three brands BMW, MINI and Rolls-Royce – is the world's
leading premium manufacturer of automobiles and motorcycles and
also provides premium financial and mobility services. As a global
company, the BMW Group operates 31 production and assembly
facilities in 14 countries and has a global sales network in more
than 140 countries. As of December 31,
2015, the BMW Group had a workforce of 122,244
employees.[1]
"The U.S. is a crucial strategic market for the BMW Group, both
operationally as well as in terms of our investor base. With the
conversion to a sponsored Level I ADR program we aim to facilitate
access to the stock for global investors and further broaden our
shareholder base in the long term," said Norbert Mayer, Senior Vice President Finance
& Group Treasurer of BMW Group.
"Germany has become an
increasingly significant market for investors, and BMW is one of
the most widely recognized brands in the world," said Christopher M. Kearns, CEO of BNY Mellon's
Depositary Receipts business. "We look forward to working closely
with BMW Group and providing resources and expertise to help the
company take its new sponsored DR to the next level. This program
reinforces our strong position and commitment to serving the German
market."
BMW Group is the latest global firm to convert from an
unsponsored to a sponsored depositary receipt program, which can
add value in terms of enhanced visibility, liquidity, and other
benefits from being serviced by a single depositary bank. Over the
last three years, 19 companies from a dozen countries have switched
to sponsored DR programs with BNY Mellon.[2]
BNY Mellon acts as depositary for more than 2,600 American and
global depositary receipt programs as of March 31, 2016. Acting in partnership with
leading companies from over 65 countries, BNY Mellon is committed
to helping securities issuers access the world's rapidly evolving
financial markets and delivers a comprehensive suite of depositary
receipt services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of June 30, 2016, BNY Mellon had $29.5 trillion in assets under custody and/or
administration, and $1.7 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Learn more at www.bnymellon.com. Follow us on Twitter
@BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for
the latest company news.
This release is for informational purposes only. BNY Mellon
provides no advice nor recommendation or endorsement with respect
to any company or securities. Nothing herein shall be deemed to
constitute an offer to sell or a solicitation of an offer to buy
securities. Depositary Receipts: Not FDIC, State or Federal Agency
Insured; May Lose Value; No Bank, State or Federal Agency
Guarantee. BNY Mellon provides no advice nor recommendations or
endorsement with respect to any company, security or products based
on any index licensed by BNY Mellon, and we make no representation
regarding the advisability of investing in the same.
[1] For more information, go to
https://www.bmwgroup.com/en/company.html
[2] Source: BNY Mellon, www.bnymellon.com/dr
Contact: Joseph F. Ailinger
Jr.
+1 617-722-7571
joe.ailinger@bnymellon.com
Malcolm Borthwick
+44 20 7163 4109
malcolm.borthwick@bnymellon.com
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SOURCE BNY Mellon