By Mauro Orru 
 

Volkswagen AG has confirmed that it is considering a potential transaction to acquire a majority stake in Europcar Mobility Group SA, the Paris-listed car-rental company that yesterday rejected a non-binding offer.

The German car maker broke its silence on Thursday after a series of press reports on a prospective acquisition, saying it is considering a majority stake purchase in a consortium with Attestor Limited and Pon Holdings BV.

"These considerations are at a very early stage and no decisions have been taken," Volkswagen said in a statement, adding that a deal could be attractive for the company.

"It represents one of several options to give Volkswagen access to a platform that would support Volkswagen's long-term mobility vision and strengthen Volkswagen's spectrum of products and services," it added.

Europcar confirmed late Wednesday that it had received and rejected an expression of interest for a potential transaction valuing the company at about 2.21 billion euros ($2.64 billion).

Europcar said the proposal at EUR0.44 per share didn't reflect the company's value and potential.

"A non-binding offer of EUR0.44 per share subject to, among others, satisfactory due diligence has been rejected by Europcar and there is no certainty whether a transaction will materialize or not and at what commercial terms," Volkswagen said.

At 1040 GMT, Europcar shares traded 4.7% higher at EUR0.45.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

June 24, 2021 06:57 ET (10:57 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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