FreeNow's Next Chapter: BMW and Mercedes-Benz Sell to Lyft
Deal News | Apr 17, 2025 | Legal Community Germany
DLA Piper has served as legal advisor to BMW Group and Mercedes-Benz Group in the sale of their jointly operated mobility platform, FreeNow, to US-based ride-hailing service Lyft. FreeNow will maintain its operations and pursue further growth post-transaction. The transition is slated for completion in the latter half of 2025, contingent on standard closing conditions. Lyft, established in 2012, operates across the US and Canada, offering services like ride-sharing, bicycles, and scooters. FreeNow functions as a prominent multi-mobility app prevalent in nine European countries, accessible in over 150 cities and providing a myriad of services including taxis, ride services, car-sharing, and more. The advising team from DLA Piper was spearheaded by professionals across various legal disciplines from offices in Munich, Hamburg, New York, and beyond. In-house legal teams from both BMW and Mercedes-Benz were also actively involved in the transaction process.
Sectors
- Automotive
- Ride-hailing
- Legal Advisory
Geography
- United States – Lyft, the acquiring company, is based in the US.
- Europe – FreeNow operates in numerous European countries and is a major focus of the sale.
- Germany – Key legal teams from DLA Piper, BMW, and Mercedes-Benz are based in Germany.
Industry
- Automotive – The industry pertains to the automotive companies, BMW and Mercedes-Benz, involved in the sale of a mobility platform.
- Ride-hailing – Lyft operates within this industry, acquiring FreeNow to enhance its service offerings internationally.
- Legal Advisory – DLA Piper, a law firm, played a crucial legal advisory role in the transaction.
Financials
- Not disclosed – The deal terms or financial value were not specified in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BMW Group | Seller | Company | An automotive giant that co-owns FreeNow, selling it to Lyft. |
| Mercedes-Benz Group | Seller | Company | An automotive leader part of the joint venture selling FreeNow to Lyft. |
| FreeNow | Target Company | Company | A multi-mobility app focused on European markets, being acquired by Lyft. |
| Lyft | Buyer | Company | A US-based ride-hailing company acquiring FreeNow to expand its European presence. |
| DLA Piper | Legal Advisor | Company | Provided legal advisory services for the transaction, representing BMW and Mercedes-Benz. |