MADRID, 5 July (EUROPA PRESS) –
Environment-friendly Movement Holding, a consortium of Volkswagen team, Attestor Limited as well as Pon Holdings, will certainly hold 93.62 percent of the shares of French vehicle rental business Europcar, as well as will certainly delist from the stock exchange on July 13. Completion of the approval duration of the acquisition deal on June 29.
Particularly at the end of the added approval duration of the acquisition deal, the consortium obtained an overall of 4,686,853,284 shares of Europcar Movement Team, boosting its share in the business to 93.62%.
Consequently, Environment-friendly Movement Holding required the application of the required marketing treatment (‘ tightening up’) as well as delisting of the business at a rate of 0.51 Euros per share. By doing this, investors that supply their shares will certainly get an extra repayment of 0.01 Euro per title.
The liquidation-delivery of the added approval duration is arranged for July 11, 2022, as well as the necessary sale as well as delisting of Europcar Movement Team shares is arranged for July 13, 2022.
“Our team believe that the Europcar Movement Team will certainly be the keystone of Volkswagen’s future organized flexibility offerings,” stated Holger Peters, Head of the Volkswagen Makeover Workplace as well as Chairman of the Supervisory Board of Europcar Movement Team.
“Having actually obtained greater than 90% risk in Europcar Movement Team as well as as a result having the ability to personalize the business provides us the possibility to act swiftly to make this vision a truth,” he included.
Volkswagen currently possessed Europcar as well as later on marketed it to French investment company Eurazeo for 3.3 billion euros in 2006. Nevertheless, the Covid-19 break out as well as subsequent limitations on flexibility have actually driven the French vehicle rental business right into insolvency.
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