German group BMW is to sell its British subsidiary ROVER to ALCHEMY PARTNERS, a London-based venture capital company, it was announced by the German economic weekly Financial Times Deutschland. ALCHEMY would join forces with an industrial partner from the automobile sector in order to manage ROVER whose losses rose to EUR 1.28 billion for 1999 alone. BMW, for its part, notched up profits of over EUR 2 billion with its own make in 1999.