French financial market regulator AMF approves takeover bid for Europcar
The Volkswagen Group, together with its partners Attestor Limited and Pon Holdings B.V., has reached an important milestone in the planned acquisition of Europcar.
The French financial market regulator Autorité des marchés financiers (AMF) has approved the takeover offer of Green Mobility Holding S.A. for the shares of Europcar Mobility Group.
The takeover values Europcar at around €2.9bn – and the bid comes from the German carmaker, along with partners, asset manager Attestor Limited and Dutch mobility group Pon Holdings BV.
Volkswagen Chief Executive Herbert Diess said: “The mobility market is changing rapidly as customers increasingly demand new and innovative on-demand mobility solutions, such as subscription and sharing models to complement car ownership. Europcar provides advanced fleet management capabilities as well as a broad network of stations at major airports, railway stations and city locations and will help accelerate Volkswagen’s delivery of its ambitious mobility services targets.”
Europcar CEO Caroline Parot commented: “For our customers as well as for our employees, two global mobility service companies joining forces today makes a lot of sense and has great value creation potential.”