Hyperdrive
VW Confirms Pursuit of Europcar After First Offer Rejected
- Rental firm’s shares extend gains a day after Bloomberg report
- Automaker says acquisition could support mobility efforts
This article is for subscribers only.
Volkswagen AG confirmed it’s considering an acquisition of a majority stake in Europcar Mobility Group to expand its offerings of mobility services.
Discussions are at an early stage and no decisions have been taken, VW said in an emailed statement Thursday, a day after Bloomberg News first reported the carmaker had made a 2.2 billion-euro ($2.6 billion) bid together with Attestor Ltd. and Pon Holdings BV. Europcar rejected an initial non-binding offer and there’s no certainty a deal will be reached.