Europcar Mobility Group Announces Agreement With Consortium Led by Volkswagen
July 28 2021 - 4:05PM
Dow Jones News
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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