June 19, 2017 / 5:50 AM / 3 months ago

France's Europcar to acquire low-cost peer Goldcar

June 19 (Reuters) - Europcar has signed an agreement to acquire Spain-based Goldcar, a low-cost car rental company, the French car rental group said on Monday.

The proposed transaction is based on an enterprise value of 550 million euros ($616 million) and is expected to generate close to 30 million euros in annual cost synergies by 2020.

Europcar said it had signed a dedicated bridge-financing with a large and international banking syndicate to support the deal, which is expected to close in the second half of 2017. ($1 = 0.8933 euros) (Reporting by Wout Vergauwen; Editing by Himani Sarkar)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below