VW and partners will buy rental firm for €2.9 billion (£2.4 billion) at 50 cents per share in mobility service push

car news, business, finance and corporate, volkswagen
car news, business, finance and corporate, volkswagen

The Volkswagen Group has moved a step closer towards acquiring French vehicle rental firm Europcar after financial regulators in France approved its takeover offer. 

The German automotive giant partnered with UK-based asset manager Attestor Limited and Dutch automotive conglomerate Pon Holdings in July to place a €2.9 billion (£2.4bn) offer, at 50 cents per share. 

“The consortium believes that this trend requires providers to operate an integrated platform and offer one-fleet-for-all offerings to maximise vehicle utilisation and platform quality,” said Volkswagen in its offer statement. 

“In addition, urban mobility proposals based on autonomous driving technologies, such as robot cabs, will further accelerate the growth of on-demand mobility solutions.”

Attestor appears set to take a 27% stake of Europcar’s shares, while Pon will control 7%. 

French financial regulator Autorité des Marchés Financiers (AMF)​​ will announce when the process of tendering shares will commence.

The move is a significant step in Volkswagen’s planned move to providing more advanced mobility solutions.

“The mobility market is changing rapidly as customers increasingly demand new and innovative on-demand mobility solutions, such as subscription and sharing models to complement car ownership,” Volkswagen Group chief executive Herbert Diess told Reuters earlier this year. 

“Europcar provides advanced fleet management capabilities as well as a broad network of stations at major airports, railway stations and city locations and will help accelerate Volkswagen’s delivery of its ambitious mobility services targets.” 

The Volkswagen Group previously wholly owned Europcar in the 1990s before selling the firm to investment firm Eurazeo for €1.26bn (£1bn) in 2006. 

Europcar is active in 140 countries across the world, with operations in Europe, Western Asia, North America and Africa, and has a fleet of more than 350,000 vehicles. 


2022 Volkswagen Atlas Cross Sport

Highs Sporty-looking bodywork, spacious inside, generous cargo room. Lows Could be more fuel efficient, lacks driving verve we’re used to from VW, plasticky interior materials. Verdict While it’s more stylish than the boxier Atlas and nearly as practical, the Cross Sport’s on-road demeanor doesn’t offer the same level of ...

View more: 2022 Volkswagen Atlas Cross Sport

2021 Volkswagen ID.4

Highs Roomy cabin, smooth ride, decent driving range. Lows Lacks driving verve, fussy infotainment interface, anonymous styling. Verdict The ID.4 is a practical electric alternative to gas-powered SUVs but lacks the excitement you might expect from an EV. Overview After years of teasing us with electric-powered concept cars, Volkswagen ...

View more: 2021 Volkswagen ID.4

2022 Volkswagen Passat

Highs Affordable and well-built, roomy rear seat, relaxing ride quality. Lows Bland looks, interior lacks pizzazz, unenthusiastic acceleration. Verdict Despite a lack of personality and performance, the Passat is practical and well-equipped. Overview The 2022 Volkswagen Passat doesn’t excite like the flashier, speedier family sedans it competes against. Parked ...

View more: 2022 Volkswagen Passat

2024 Volkswagen ID.Buzz Microbus

Overview With electric vehicles becoming more mainstream each year, and few capacious EV options for families, the 2024 Volkswagen ID.Buzz Microbus aims to address a largely untapped market. The design of the ID.Buzz commemorates the German company’s iconic Type 2 Microbus—or VW Bus for short—which inspired the new van’s ...

View more: 2024 Volkswagen ID.Buzz Microbus

2023 Volkswagen ID.8

Overview Although we haven’t seen any images of it yet, Volkswagen has confirmed a three-row SUV will soon launch on its electric-vehicle architecture. The family-friendly SUV will be called ID.8 and we expect it to share styling with the slightly smaller ID.6 (shown above) that was unveiled for the ...

View more: 2023 Volkswagen ID.8

2022 Volkswagen Arteon

Highs Easily the best-looking Volkswagen, cabin has lots of people space, hatchback body provides ample cargo storage. Lows Not particularly enjoyable to drive, interior doesn’t meet luxury aspirations, almost as expensive as Audi alternatives. Verdict The Arteon is the prettiest and fanciest VW, but it’s held back by demure ...

View more: 2022 Volkswagen Arteon

2022 Volkswagen Golf R

Highs Refined turbocharged engine, joyful handling, practical hatchback body. Lows Steep starting price, fussy capacitive touch controls, the even more practical wagon version won’t be sold in the U.S. Verdict With snappy performance and an understated look, the Golf R is the hot hatch for mature driving enthusiasts. Overview ...

View more: 2022 Volkswagen Golf R

2022 Volkswagen Jetta GLI

Highs An affordable car that’s great fun to drive, unexpectedly practical for a compact sedan, desirable and upscale standard features. Lows Cabin marred by some unpleasant materials, styling won’t excite everyone, automatic can hesitate to downshift. Verdict The only way to find a sedan that’s more fun and satisfying ...

View more: 2022 Volkswagen Jetta GLI

2022 Volkswagen Taos

2022 Volkswagen Tiguan

Comparison Test: 2020 Kia Niro EV vs. 2021 Volkswagen ID.4

1988 Volkswagen Jetta GLI 16V

2021 Volkswagen ID.4: What It Gets Right, And What Could Improve

Everything You Need To Know About The Volkswagen ID Range

5 Way Drag Race: RS 3 vs A 45 S vs Cayman GTS vs Golf R vs M2

Past Ford and Volkswagen collaborations

A Brief History Of The Volkswagen Golf R

Sporty Sedan Shootout: Honda Civic Si Vs. Volkswagen Jetta GLI

Volkswagen Posts Best Sales Since 1973

2022 Volkswagen Golf R Just Got A Big Power Boost