VW Group looking to buy (back) Europcar
According to Automotive News, which cites a Reuters report, Volkswagen Group is in talks with Europcar Mobility Group to discuss a possible take-over. That might seem remarkable but the move could enable the German OEM to better capitalise on its fleet and acquire a valuable network to leverage its mobility services offer.
Volkswagen has allegedly reached out to the French rental car and mobility service provider to express its interest in an acquisition and carry out due diligence. It’s far from a done deal, though.
Interestingly, the German OEM sold Europcar to investment company Eurazeo fourteen years ago for 3.3 billion euros. Today, the French short term car rental company has a much lower market value as it faces the consequences of COVID-19 and a lack of liquidity, forcing it to ask for French State aid.
Photo credit: VW, 2020