BERLIN (Reuters) – A consortium led by carmaker Volkswagen has secured a 93.6% stake in car rental company Europcar, it said on Tuesday, citing French financial authorities.The move allows Europcar’s new owners to delist it from the Paris stock exchange as planned.
Volkswagen and its consortium partners, asset manager Attestor Limited and Dutch mobility group Pon Holdings BV, had offered 0.50 euros($0.5209) per share for Europcar, topped up by 0.01 euro per share if 90% of shareholders take up the bid.
Green Mobility Holding is continuing to make good progress towards its intended acquisition of Europcar Mobility Group. Given the ongoing pre-filing discussions with the European Commission (EC), Europcar Mobility Group has confirmed that it has agreed to extend the deadline for completion of the offer from March 31, 2022 to June 30, 2022, under the option provided in the tender offer support agreement entered into with Europcar Mobility Group. Green Mobility Holding remains fully committed to completing the transaction not later than June 30 2022 and to strengthening the future of Europcar Mobility Group as it emerges from the challenges of recent market conditions.