Free2move's car-sharing unit runs short- and long-term free-floating fleets in 14 cities spanning Europe and the US.

Stellantis is selling its car-sharing business Free2Move to a German private equity firm as part of a plan to boost profitability.

Stellantis (NYSE:STLA) has reached an agreement to sell its Free2move car-sharing business to German investment firm Mutares, as Chief Executive Antonio Filosa continues to streamline the group’s operations and concentrate on its core automotive business. The transaction, whose financial terms have not been disclosed, is expected to be completed before the end of the year.

The automaker will sell its entire stake in Free2Move, which was once set not just to be a platform for car-sharing and urban mobility but a pathway to bring Peugeot to the U.S.

Mutares SE & Co KGaA (WBO:MUXG) reports $1.7 billion in Q1 revenues, with successful capital increases and strategic acquisitions driving future growth.

Mutares SE & Co KGaA reports robust revenue growth and strategic expansion initiatives, while addressing challenges in specific segments and acquisition risks.

By Karen Roman Vinson & Elkins said it represented JPMorgan Chase & Co. (NYSE: JPM) as financial advisor to The Saudi Basic Industries Corporation in the $450 million sale of its regional engineering thermoplastics business in the Americas and Europe to MUTARES. The Saudi Basic Corp. produces polycarbonate, polybutylene terephthalate and other resin and compounds […]

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