Brilliance China Automotive Holdings Limited (SEHK:1114) is in preliminary negotiations to sell its 25% stake in a joint venture with German automaker Bayerische Motoren Werke Aktiengesellschaft (XTRA:BMW) (BMW AG), Bloomberg reported, citing people in the know. Reportedly, carmaker China FAW Group Co., Ltd. is involved in the discussions. The report comes as Brilliance Auto Group Holdings, the parent of Brilliance China, is restructuring its operations after financial difficulties.

The company has faced a default on debt payments and regulatory fines.