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Volkswagen is leading a consortium making an offer to buy French car-hire firm Europcar.
The consortium has filed a tender offer with French regulators, VW following up on interest in Europcar that surfaced earlier this year when a letter of intent on a possible transaction was sent to Europcar.
In a statement, VW said the consortium of Volkswagen Group, Attestor Limited and Pon Holdings B.V., together acting as Green Mobility Holding S.A., has filed its proposed tender offer for the shares of Europcar Mobility Group with the French Autorité des marchés financiers (AMF).
The consortium’s offer comprises a cash tender offer at a price of €0.50 per share, plus a potential earn-out of €0.01 per share if the 90% squeeze-out threshold is reached at the end of the offer (including dividends).
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