Volkswagen Group leads Europcar takeover bid

A consortium led by Volkswagen Group has filed a takeover offer for Europcar Mobility Group.

The consortium of Volkswagen Group, Attestor and Pon Holdings, acting as Green Mobility Holding, filed the offer with French authorities yesterday.

Volkswagen Group said it plans to, “continue the transformation of [Europcar], to expand its offering in the areas of mobility solutions by leveraging its physical and digital platforms. This will enable Europcar Mobility Group to meet customer expectations in a significantly changing market, with an increasing customer appetite for new and innovative ‘on-demand’ mobility solutions, such as subscription and sharing models.

“The completion of the transaction is expected to generate economic gains mainly in the form of financial synergies fuelled by Volkswagen’s financial profile from which the company is expected to benefit indirectly. The implementation risks associated with achieving these financial synergies cannot be accurately estimated at this stage. Operational synergies that could result from the combination of the two groups’ structures are not expected, as Volkswagen and the company will operate on an arm’s length basis.”

The offer is not expected to have any significant impact on Europcar Mobility’s workforce.