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    EUCAR   FR0012789949

EUROPCAR MOBILITY GROUP

(EUCAR)
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Europcar Rejects $2.64 Billion Takeover Approach

06/23/2021 | 01:03pm EDT

By Mauro Orru

Europcar Mobility Group SA has rejected a takeover approach valuing the company at about 2.21 billion euros ($2.64 billion) after concluding the proposal didn't reflect the company's value and potential.

The Paris-listed car-rental company said Wednesday that it recently received an expression of interest for a potential transaction. It didn't name any prospective bidders.

"After studying this proposal carefully, the board of directors of the company has concluded that the price of EUR0.44 per share proposed does not reflect the company's full value and value creation potential," Europcar said.

"Further discussions may take place, which the company does not intend to comment, unless required by law," the company added.

Earlier on Wednesday, Bloomberg reported that Europcar had rejected a takeover attempt from Volkswagen AG at about EUR0.44 per share, citing people with knowledge of the matter.

Volkswagen didn't respond to a request for comment.

Europcar shares closed 9.5% higher at EUR0.43 on Wednesday.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

06-23-21 1302ET

Stocks mentioned in the article
ChangeLast1st jan.
EUROPCAR MOBILITY GROUP 0.67% 0.4993 Real-time Quote.18.34%
VOLKSWAGEN AG -0.75% 205.5 Delayed Quote.35.84%
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Financials
Sales 2021 2 227 M 2 643 M 2 643 M
Net income 2021 -126 M -150 M -150 M
Net Debt 2021 487 M 578 M 578 M
P/E ratio 2021 -19,8x
Yield 2021 -
Capitalization 2 500 M 2 966 M 2 967 M
EV / Sales 2021 1,34x
EV / Sales 2022 1,12x
Nbr of Employees 8 482
Free-Float 96,1%
Chart EUROPCAR MOBILITY GROUP
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Europcar Mobility Group Technical Analysis Chart | MarketScreener
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Technical analysis trends EUROPCAR MOBILITY GROUP
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Last Close Price 0,50 €
Average target price 0,48 €
Spread / Average Target -3,23%
EPS Revisions
Managers and Directors
Caroline Parot Chief Executive Officer & Director
Luc Etienne Péligry Group Chief Financial Officer
Alexandre de Juniac Chairman
Damien Basselier Group Chief Product & Chief Technology Officer
Olivier Baldassari Group Chief Countries & Operations Officer
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