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Mobility: Volkswagen and Europcar agree to take over 2.5 billion euros

2021-07-28T19:05:06.282Z

Europcar has suffered a lot from the corona crisis. The French company is now accepting an offer from Volkswagen. The car rental company could play a central role in the Wolfsburg-based strategy.



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Europcar logo in Paris: takeover worth billions

Photo: Charles Platiau / REUTERS

Success at the second attempt: The French car rental company Europcar has reached an agreement with a consortium around the car manufacturer Volkswagen on a takeover.

The company announced in Paris that the price was EUR 0.50 per share.

That would correspond to around 2.5 billion euros.

In addition, there would be another cent per share if the consortium with VW, the asset manager Attestor and the Dutch conglomerate Pon Holdings reached the so-called squeezeout threshold after the offer was concluded, from which minority shareholders can be excluded.

Europcar had only confirmed talks about an increased takeover offer the evening before.

About a month ago, VW made the long-rumored interest in Europcar public, but was rejected with an offer of 44 cents per share.

Industry experts assume that Volkswagen intends to use Europcar's dense network of rental stations in its plans to become a mobility provider.

mic / dpa

Source: spiegel

All business articles on 2021-07-28

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