PARIS (Reuters) -A consortium led by German automaker Volkswagen is in advanced talks to buy Europcar in a deal that would value the French car rental company’s equity at about 2.5 billion euros ($3 billion). Europcar confirmed on Tuesday it was discussing a potential offer at around 0.50 euros per share, after sources earlier told Reuters that Volkswagen had rekindled talks and was honing in on a deal. A tie-up could be announced as soon as Wednesday if talks about an agreement in principal are successful, two sources told Reuters. Volkswagen declined to comment, as did Anchorage, the lead fund that took control of Europcar last year along with other investment firms. Volkswagen sold the company to French financial investor Eurazeo in 2006 for 3.3 billion euros, including debt.

Source: MetroXpress July 27, 2021 13:00 UTC