Volkswagen in advanced talks for Europcar deal - sources
Reuters
Published Jul 27, 2021 08:40AM ET
PARIS (Reuters) - Europcar's hedge fund owners and Volkswagen (DE:VOWG_p) are in advanced talks about a takeover of the French car rental company after a first bid from the German firm was rejected in June, according to two sources close to the matter.
Volkswagen, which has owned Europcar in the past, is exploring a tie-up that could be announced as soon as Wednesday if talks about an agreement in principal are successful, although no deal has been reached yet, the sources said.
One of the sources said Volkswagen was making a renewed approach at 0.50 euros per share, following its last offer at 0.44 euros, and that the companies' respective boards were due to meet on Wednesday. The pricing details could yet change, the source added.
Volkswagen declined to comment, as did Anchorage, the lead fund which took control of Europcar last year along with other investment firms.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.