DLA Piper Advises BMW and Mercedes-Benz on €175M Sale of FreeNow to Lyft.
DLA Piper has advised BMW Group and Mercedes-Benz Mobility on the €175 million ($197 million) sale of their joint European multi-mobility platform, FreeNow, to Lyft, Inc., a leading North American ride-hailing company.
The all-cash deal marks Lyft’s most significant international expansion to date and is expected to close in the second half of 2025, subject to customary closing conditions.
FreeNow to Continue Operating Independently
Despite the change in ownership, FreeNow will continue operating under its current brand and leadership, with a strong focus on growth. Headquartered in Europe, FreeNow provides a one-stop platform for urban mobility, offering taxis, private hire vehicles (PHVs), car sharing, eBikes, eScooters, and even public transport access, all within a single app.
The service is currently available in 9 countries and over 150 cities, including Germany, the UK, Ireland, Spain, France, and Italy.
Founded in 2012, Lyft is well known in the U.S. and Canada for its rideshare, bike, and scooter services. The acquisition of FreeNow marks its first major leap into the European market, expanding its addressable market to more than 300 billion annual personal vehicle trips.
The deal is expected to increase Lyft’s annualized gross bookings by approximately €1 billion, diversify revenue streams, and support the company’s long-term growth strategy.
“We’re on an ambitious path to build the best, most customer-obsessed mobility platform in the world, and entering Europe is an important step in our growth journey,” said Lyft CEO David Risher. “We found the perfect partner in FREENOW and can learn a lot from the team. FREENOW’s local-first approach mirrors Lyft’s values and embodies our purpose – to serve and connect.”
FreeNow CEO Thomas Zimmermann welcomed the partnership with Lyft, calling it “a powerful step forward” that will allow the company to scale its impact across Europe.
“Lyft’s strong, customer-first track record aligns perfectly with our deep roots in the taxi industry, and together we will push boundaries and raise expectations for fleet owners, taxi drivers, and riders across the continent. We stand with the industry—not above it—and remain proud partners of the community.
This collaboration is about combining our strengths, learning from each other, and scaling what works best. We sincerely thank our former shareholders for their trust and enduring partnership throughout the years.”
Mr. Zimmermann also thanked BMW and Mercedes-Benz for their support over the years, as the companies shift their mobility strategies.
Legal Advisors
DLA Piper led the legal advisory for BMW Group and Mercedes-Benz Mobility, with a cross-border team spearheaded by:
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Dr Christoph Dachner (Munich),
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Dr Benjamin Parameswaran (Hamburg), and
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Dr Tim Arndt (New York), all from the Corporate M&A practice.
Supporting teams included:
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Dr Björn Enders (Tax),
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Dr Burkhard Führmeyer (IP),
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Semin O (Antitrust, all Frankfurt),
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Jérôme Halphen (Employment, Paris),
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Dr Thilo Streit (Regulatory, Cologne), and
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Dr Enno Ahlenstiel (Antitrust).
Additional support came from senior associates Rainer Hartmann (Tax), Marisa Machacek (IP), and associates Lea Reifers (Hamburg), and Dr Lukas Reitebuch (Munich).
On the in-house side, Mercedes-Benz was represented by Michael Rebholz (Legal M&A), while the BMW Group team included Dr Matthias Wahl, Sascha Ostermann, Dr Torsten Dilly, Silvia Meier, and Stephan Kaufmann from their IP division.
DLA Piper is a global law firm with a strong reputation for providing legal services across a broad spectrum of industries and sectors. With offices in more than 40 countries, the firm offers comprehensive legal solutions in areas such as corporate law, litigation, intellectual property, real estate, and regulatory matters. DLA Piper serves a diverse range of clients, including multinational corporations, governments, and individuals, delivering innovative and strategic advice. The firm is known for its collaborative approach, providing tailored legal expertise to address complex, cross-border issues while maintaining a commitment to exceptional client service.
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