Clifford Chance has advised Europcar, the European leader in vehicle rental services and a major player in mobility markets, on the sale of its 25% stake in car2go Europe to joint venture partner Daimler Mobility Services.
The sale of this 25% stake in car2go Europe will contribute to the funding of the contemplated expansion of the Europcar group in the New Mobility segments such as car sharing, ride hailing, multi-modal platforms and car pooling.
Daimler paid €70 million to buy the remaining 25 percent of car-sharing company car2Go that it did not already own, valuing car2Go at €280 million.
The acquisition means that following approval of the transaction by the relevant authorities, 100 percent of the car2go Europe shares are in the hands of Daimler Mobility Services. In 2012, car2go Europe GmbH was created as a joint-venture, owned 75% by Daimler and 25% by Europcar. Today, car2go Group is present in Europe, North America and China, and has more than 3 million users worldwide.
The Clifford Chance team was led by corporate partner Fabrice Cohen (picture) and counsel Alexandre Merle, in Paris. They were supported by corporate partner Jörg Rhiel and associate Moritz Petersen, in Frankfurt. Antitrust advice was provided by partner David Tayar, in Paris and partner Marc Besen and counsel Dimitri Slobodenjuk, in Dusseldorf.
Involved fees earner: Fabrice Cohen – Clifford Chance; Alexandre Merle – Clifford Chance; Jörg Rhiel – Clifford Chance; Moritz Petersen – Clifford Chance; David Tayar – Clifford Chance; Marc Besen – Clifford Chance; Dimitri Slobodenjuk – Clifford Chance;
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