green mobility holdings, The consortium led by the Volkswagen Group, together with the investment fund Attestor Limited and the Dutch mobility group Pon Holdings, has acquired 87.38% of the French rental group Europcar.
This position is sufficient to take control of the rental car company, but is still below the original target of 90%. Shareholders can, however, accept the group’s offer until June 29.
Specifically, Green Mobility Holdings has put on the table 50 cents a share — the price at which they are currently listed — but if they manage to acquire 90% of the property, they will increase their payment by one cent per share.
Although Green Mobility Holdings needs only 68% ownership of Europcar to control it under French law, its intention to acquire 90% would allow it to make strategic decisions without resistance from the board of directors.
The CEO of VW Financial Services,
Christian Dalheimclaimed that “Europcar’s minority shareholders now have their last chance to accept a very attractive offer.”
The offer of 50 cents per share values Europcar at 2.9 billion euros, including debt. The rental company has a fleet of more than 350,000 vehicles and offices in more than 140 countries, important figures to support the mobility services that the Volkswagen Group aims to offer in the future.
According to the CEO of the German consortium
Herbert Diess“Europcar has advanced fleet management solutions, as well as a highly developed network in airports, train stations and city centers, which will accelerate the mobility services of the VW group.”
Source: La Verdad
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
