Europcar announced approval from EU Commission

Published on : Thursday, December 7, 2017

euEuropcar Group, European leader in vehicle rental services and a major player in mobility markets announced that it got approval from the EU Commission to acquire Goldcar.

 

The acquisition is expected to be completed in December including the refinancing of Goldcar’s fleet debt.

 

The strategic step for the Europcar Group will increase the exposure to three major growth engines – the Mediterranean region, the leisure segment and the low-cost segment.

 

It will help Europcar to become a major player in the fast-growing European low-cost segment generating €30 million of cost synergies per annum by 2020.

 

 

The bulk of these synergies will come from savings relating to Goldcar’s fleet purchasing and fleet financing.

 

 

The rest will come from the benefits of combining Goldcar’s streamlined operating model with Europcar’s large European footprint.

 

Caroline Parot, chief executive, Europcar Group was pleased with the decision from the EU Commission to approve the acquisition of 100 per cent of Goldcar.

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