Europcar: takes over Goldcar.
(CercleFinance.com) - Europcar today announces the signing of an agreement with Investindustrial for the acquisition of Goldcar, the largest low-cost vehicle rental company in Europe, particularly thanks to its strong presence in Spain and Portugal.
The transaction is based on a corporate enterprise value of 550 million euros. Goldcar generated rental revenues of approximately 240 million euros, as well as estimated adjusted corporate EBITDA of approximately 48 million euros in 2016.
The car rental group explained that with this strategic acquisition, Europcar group is found at the intersection of three major growth areas - the Mediterranean region, and both the leisure and low-cost segments.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The transaction is based on a corporate enterprise value of 550 million euros. Goldcar generated rental revenues of approximately 240 million euros, as well as estimated adjusted corporate EBITDA of approximately 48 million euros in 2016.
The car rental group explained that with this strategic acquisition, Europcar group is found at the intersection of three major growth areas - the Mediterranean region, and both the leisure and low-cost segments.
Copyright (c) 2017 CercleFinance.com. All rights reserved.