Categories: News

Volkswagen to buy Europcar for 3 billion euros

Europcar should soon pass under the flag of the Volkswagen group, which for its part is seeking to develop its mobility activities.

French Europcar, leader in the car rental sector, could soon go under german flag. In any case, this is what the Volkswagen group wants, which has announced that it has made an offer to purchase Europcar shares at € 0.50 per share, or € 2.9 billion. For its part, the consortia current owners of the lessor accepted the offer, after having refused a smaller one last June. The process will now follow its regulatory court with the Financial Markets Authority (AMF) and the Competition Authority.

One way to lower the group’s CO2 emissions?

This takeover would be an important step in the transformation of the Volkswagen group into a “mobility supplier”. The group could use the 3,500 Europcar branches to deploy its electrical offer there, and thus kill two birds with one stone. Firstly increase electrical terminals and access to electricity for consumers who are still cautious. On the other hand, mechanically increase the sales of its electric cars. A good way to do it too lower average emissions of the group in Europe.

Volkswagen has already owned Europcar for 8 years, from 1998 to 2006. Europcar is also the owner of the Ubeeqo carsharing specialist, an activity that could gain weight in the activities of the Volkswagen group in the coming years.

If the buyout process goes smoothly, Volkswagen’s takeover should be effective by the start of 2022.

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