Mercedes-owner Daimler AG has agreed to acquire Europcar Groupe S.A.'s 25% stake in car-sharing service Car2Go Europe GmbH for €70 million.
Car2Go Europe was created as a joint venture, owned 75% by Daimler and 25% by Europcar, in 2012. The transaction is expected to close before the end of the second quarter, subject to regulatory approvals.
Daimler is said to be in talks to combine Car2Go with luxury carmaker Bayerische Motoren Werke AG's car-sharing service, DriveNow. BMW bought its partner Sixt out of DriveNow in January, Reuters reported.
The two companies plan to form a joint business that will provide car-sharing, ride-hailing, electric vehicle charging and digital parking services, according to the Reuters report.
Daimler said it wants to be "a leader in the future business with self-driving cars."
