BMW acquires Sixt’s stake in European car-sharing subsidiary DriveNow
German automaker aims to win 100 million customers for its premium mobility services by 2025
BMW Group has acquired Sixt SE’s stake in the premium car-sharing company DriveNow, the German automaker said in a press release on 29 January. The acquisition, subject to approvals by anti-trust authorities, is expected to provide the German automaker with flexibility to further expand its presence in the emerging new mobility services business. While BMW has not provided the financial details of the transaction, a Reuters report claimed that Sixt will receive EUR209 million (USD259 million) for its 50% stake in DriveNow.
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