March 1, 2018 / 6:29 AM / 2 years ago

Daimler buys Europcar out of car-sharing venture

FRANKFURT, March 1 (Reuters) - German carmaker Daimler has agreed to buy Europcar’s 25 percent stake in car-sharing service Car2Go for 70 million euros ($85 million), the two companies said on Thursday, paving the way for a car-sharing alliance with BMW.

A person familiar with the matter told Reuters in January that Daimler and BMW were close to agreeing to combine their car-sharing services Car2Go and DriveNow.

BMW in January bought out its partner Sixt from DriveNow. ($1 = 0.8205 euros) (Reporting by Maria Sheahan; Editing by Edwina Gibbs)

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