The Limited Times

Now you can see non-English news...

The State to maneuver to help Europcar

2020-04-07T17:48:47.473Z


The French rental company turned to Bercy to replenish its cash. A bank agreement could be signed.


The State is maneuvering to rescue Europcar, the rental company, of which almost the entire fleet, 334,000 vehicles worldwide, at the end of December, has been stationary since the beginning of March.

According to Le Monde , the interministerial committee for industrial restructuring (Ciri), the unit which organizes in Bercy the rescue of large companies in difficulty, would have assembled a consortium of banks ready to grant a line of liquidity of 223 million euros, 90% guaranteed by Bpifrance. Caroline Parot, president of the management board of Europcar Mobility Group, turned to Ciri last month. The banks had been cautious to help him keep his cash despite the state guarantee. This time, under the leadership of Bercy, a draft agreement is on the table. " But nothing is signed yet ," cautiously remind the protagonists.

Two weeks ago, the leaders of Europcar warned that the objectives for 2020 were obviously no longer valid and that the ambitions

This article is for subscribers only. You still have 68% to discover.

Subscribe: € 1 the first month

cancellable at any time

Enter your email

Already subscribed? Log in

Source: lefigaro

All business articles on 2020-04-07

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.