By Stephen Nakrosis 
 

Europcar Mobility Group on Wednesday said it entered a tender offer support agreement setting terms and conditions of its proposed acquisition by a consortium led by Volkswagen AG.

The consortium, which also includes Attestor Ltd. and Pon Holdings B.V., made an offer of EUR0.5 per share, Europcar said, adding there is a potential price supplement of EUR0.01 if a 90% squeeze-out threshold is reached by the deal's completion.

The acquisition would come by way of a dedicated company, Green Mobility Holding, which will be jointly held by the consortium's members, Europcar said.

Europcar said its board "favorably welcomed" the planned deal.

On the recommendation of an ad hoc committee, Ledouble SAS was appointed independent appraiser "in charge of issuing a report including a fairness opinion on the financial terms of the tender offer," Europcar said.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

July 28, 2021 15:59 ET (19:59 GMT)

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