Sixt says DriveNow cooperation with BMW to open in Helsinki

FRANKFURT, May 11 (Reuters) - DriveNow, the car sharing business operated by BMW and Sixt, is expanding to Helsinki after growing to 875,000 users, Sixt Chief Executive Erich Sixt said during a conference call on first-quarter results.

“Finland will become our 12th location in Europe,” Sixt said, adding that DriveNow was profitable in all the cities in which it operates.

Asked whether there were plans to sell out to joint-venture partner BMW, Erich Sixt said, “We are sitting on a jewel. We have not received an offer from BMW. It would be up to them to make a change.”

Bankers had valued the DriveNow business at around 480 million euros ($522 million), of which half belongs to Sixt, he said.

$1 = 0.9198 euros Reporting by Edward Taylor; Editing by Maria Sheahan