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I just replaced my rear pads on my 2017 540i M-Sport with the blue caliper brakes. All I had to do is to make sure the parking brake was not set and to wind the caliper piston back by turning the piston clockwise while pushing it. You will need a commonly found brake caliper piston tool with an adaptor that has a notch to turn the caliper piston.
I use a similar toolset as this Harbor Freight set and you will need adaptor 8:
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