Green Mobility Holding, a consortium around the car manufacturer Volkswagen, has secured an 87.4 percent stake in car rental company Europcar by purchasing around 4.4 billion shares in the company. The goal of 90 percent of the shares, which would allow the new owners to take Europcar off the stock exchange, has not yet been reached.
From Thursday to June 29, Europcar shareholders have one last opportunity to sell their shares to the consortium, as VW announced on Wednesday. Volkswagen and its partners, the financial investor Attestor and the Dutch mobility group Pon Holdings, lure shareholders with a premium of one cent on the offered price of 50 cents per Europcar share if the threshold is finally reached.
The consortium had long since secured the 67 percent required for the success of the takeover bid. As a platform for car rental, ride-sharing services and car-sharing, Europcar is to become the leading mobility provider and thus, among other things, the family-run group from Pullach in the Isar Valley sixt make more competition.
Volkswagen plans to transform into a tech company
“The planned transformation of Europcar into a tech company that aims to become a cornerstone of Volkswagen’s future mobility platform will require major investments over the next few years,” said Christian Dahlheim, CEO of Volkswagen Financial Services and project leader of the Europcar transaction.