Eurazeo says VW’s Europcar will remain independent if it acquires unit
FRANKFURT, Germany ” French private equity company Eurazeo SA said Friday it would maintain the independence of car rental company Europcar if its bid for the Volkswagen AG unit is successful.
Eurazeo confirmed Wednesday that it was in exclusive talks with Volkswagen about acquiring the unit, Europe’s biggest car rental company. VW also has confirmed the talks, but has not commented on its asking price.
Eurazeo has previously teamed up with Merrill Lynch Global Private Equity, which last year bought U.S. car rental company Hertz along with two partners, to buy a French electronic parts distributor.
That led to speculation that Eurazeo might eye a merger of Europcar with a rival company. However, Eurazeo said Friday that it was acting alone.
The Paris-based company said in a statement that it planned to build on the rental car company’s “highly successful operations by further developing the company’s business while maintaining its independence and the scope of its operations.”