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BMW takes full control of car-sharing platform DriveNow
Regulators are expected to approve or reject the deal by June.
"With DriveNow as a wholly-owned subsidiary, we have all options for continued strategic development of our services," BMW board member Peter Schwarzenbauer said in a statement.
Sixt's stake in the service had long been seen as the main hurdle to merging it with Mercedes-Benz maker Daimler's rival Car2Go platform.
Launched in 2011, DriveNow offers a fleet of around 6,000 BMW and Mini vehicles in 13 European cities, with more than one million customers on its books.
Meanwhile, Car2Go's 14,000-strong fleet - mostly made up of Daimler's ultra-compact Smart cars - serves 2.6 million users in 25 cities spread across three continents.
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
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