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    EUCAR   FR0012789949

EUROPCAR MOBILITY GROUP

(EUCAR)
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Volkswagen considering buying majority stake in Europcar

06/24/2021 | 08:13am EDT
Paris Charles de Gaulle airport in Roissy-en-France

BERLIN (Reuters) - Germany's Volkswagen confirmed on Thursday it is considering acquiring a majority stake in car rental company Europcar as it seeks to tap into the trend for consumers to rent rather than own a vehicle.

Volkswagen said it was considering a potential transaction, together with investors Attestor and Pon Holdings, although considerations were at a very early stage and no decisions had been taken.

Company sources told Reuters a year ago that VW wanted to buy back Europcar, which it sold to French financial investor Eurazeo in 2006 for 3.3 billion euros ($3.94 billion), including debt.

Europcar said on Wednesday it had rejected a takeover bid, without specifying the bidder, saying the 0.44 euro per share price offered was too low.

The car rental business has taken a heavy hit from the coronavirus pandemic given the collapse of the travel market.

Europcar's shares were up 5% on Thursday at 0.4550 euros.

Volkswagen said buying Europcar was one of several options it was considering to give the company access to a rental platform that would support its "long-term mobility vision" and strengthen its range of products and services.

Company sources have suggested that Volkswagen could use Europcar's network of rental stations to help it become a broader provider of different mobility options.

Bloomberg news agency had already reported that Europcar had rejected a $2.6 billion takeover bid from Volkswagen.

($1 = 0.8377 euros)

(Reporting by Jan Schwartz and Emma Thomasson; Editing by Caroline Copley and David Evans)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EURAZEO SE 0.25% 81.7 Real-time Quote.47.21%
EUROPCAR MOBILITY GROUP 0.67% 0.4993 Real-time Quote.19.13%
VOLKSWAGEN AG -0.75% 205.5 Delayed Quote.34.82%
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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 -20,0x
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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Technical analysis trends EUROPCAR MOBILITY GROUP
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 0,50 €
Average target price 0,48 €
Spread / Average Target -3,87%
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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