Stock Market News
Volkswagen-led consortium secures 93.6% of Europcar shares
2022.07.05 13:31
FILE PHOTO: Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid
BERLIN (Reuters) – A consortium led by carmaker Volkswagen (ETR:VOWG_p) 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.
