Daimler to Buy Europcar's Stake in Car2go

03/01/18 01:27 AM EST
   By Max Bernhard 

Daimler AG (DAI.XE) said Thursday that it will acquire Europcar Groupe SA's (EUCAR.FR) 25% stake in car2go Europe GmbH, a car-sharing company.

The German car maker said its mobility services unit, which has invested in a suite of applications and other forward-looking transportation initiatives, will hold 100% of car2go after acquiring the stake.

Car2go was created as a joint venture between Daimler and Europcar in 2012. Initially Daimler held 75% in the company and Europcar had 25%.

Thursday's transaction is subject to regulatory approval.


Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard


(END) Dow Jones Newswires

March 01, 2018 01:27 ET (06:27 GMT)

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