Deals
Daimler, BMW Said to Explore Sale of Park Now App Business
- German carmakers working with Rothschild on potential disposal
- Daimler, BMW focus on improving core automotive operations
The ParkNow app
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Daimler AG and BMW AG are exploring a sale of their jointly owned parking-app business Park Now, according to people familiar with the matter, as the German luxury-car makers focus on their core automotive operations.
The companies are working with advisory firm Rothschild & Co. on the potential divestment, said the people, who asked not to be identified because discussions are private. Park Now is expected to fetch several hundred million euros, they said.