Daimler takes over Car2Go Europe

Berlin: German auto giant Daimler, owner of Mercedes-Benz, said on Thursday it will take full ownership of car-sharing service Car2Go Europe, buying out its long-standing joint venture partner, Europcar. Daimler, which already owns 75 per cent of Car2Go Europe, said in a statement it would buy the 25 per cent held by Europcar since the joint venture was set up in 2012. The deal must still receive regulatory approval and Daimler did not say when it expected the transaction to be completed. But the move mirrors a similar one made by rival BMW which took full control of a competing service, DriveNow, in January.— AFP