Europcar: rumoured to have bid for Goldcar.
(CercleFinance.com) - Europcar is rumoured to have made an offer to buy Goldcar, a Spanish low-cost car rental company, according to a press article published by El Confidencial.
This company has a market capitalisation of around 1 billion euros.
Europcar has made the most attractive offer to investment funds such as Cinven, Carlyle, CVC and Advent. Goldcar has sales of approximately 250 million euros (i.e. 11.6% of Europcar's 2016 sales), with EBITDA of around 130 million euros, according to Oddo's analysts.
"At first sight, this offer fits well with Europcar's growth strategy," says broker Oddo. Analysts believe that this is a credible rumour, which is consistent with management's comments, who wish to develop the group through acquisitions.
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