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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Europcar Mobility Group SA    EUCAR   FR0012789949

EUROPCAR MOBILITY GROUP SA

(EUCAR)
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Funds take over car rental firm Europcar in debt restructuring

11/26/2020 | 10:31am EST
FILE PHOTO: Paris Charles de Gaulle airport in Roissy-en-France

PARIS (Reuters) - Car rental firm Europcar, which has been walloped by the coronavirus pandemic along with the travel sector, said on Thursday its creditors had agreed to shrink its debt load by 1.1 billion euros in exchange for shares and control of the firm.

The loss-making French company will receive around 500 million euros ($595 million) in funding as part of the restructuring, to help with cash flow and finance its car fleet, part of which will come from a capital hike.

Investment funds Anchorage, Attestor, Diameter, King Street Capital and Marathon, which in recent months had bought up the Europcar bonds that will be converted into capital, will receive shares in exchange.

As part of the deal, which will help the group shrink its gross debt from just over 2 billion euros now, the funds will hold between around 90% and 97% of Europcar once the debt-to-equity swap and capital hike is finalised.

Eurazeo, which holds 29.9% of Europcar and which will now see its holding squeezed, gave its backing to the transaction, the company said. The French investment firm had been hoping to find buyers for its stake.

German carmaker Volkswagen had circled Europcar back in June and had begun talks over a possible acquisition of the firm, sources told Reuters at the firm, but a firm bid never materialised.

(Reporting by Sarah White and Gwenaelle Barzic;Editing by Elaine Hardcastle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EURAZEO SE -0.34% 57.8 Real-time Quote.4.50%
EUROPCAR MOBILITY GROUP SA -1.60% 0.7075 Real-time Quote.-4.89%
VOLKSWAGEN AG 1.88% 165.08 Delayed Quote.6.31%
All news about EUROPCAR MOBILITY GROUP SA
01/20GENERAL MEETING OF SHAREHOLDERS : Europcar Mobility Group in a position to final..
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01/20EUROPCAR MOBILITY GROUP : in a Position to Finalize Its Financial Restructuring ..
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01/19EUROPCAR MOBILITY : Catalan Health Institute Partner To Transport Medical Equipm..
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01/19EUROPCAR MOBILITY GROUP : Supports the Delivery of Vaccines Against Covid-19 Wit..
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01/13EUROPCAR MOBILITY : Availability of a Prospectus Relating to Certain Issuances P..
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01/11EUROPCAR MOBILITY : As part of the step plan enabling the implementation of its ..
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01/07EUROPCAR MOBILITY GROUP : Approval of the Draft Accelerated Financial Safeguard ..
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01/07EUROPCAR MOBILITY : Approval of the draft accelerated financial safeguard plan b..
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01/07EUROPCAR MOBILITY GROUP SA : Press Release
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01/04EUROPCAR MOBILITY : Information Available Concerning the Combined Shareholders' ..
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More news
Financials
Sales 2020 1 879 M 2 287 M 2 287 M
Net income 2020 -354 M -431 M -431 M
Net Debt 2020 1 423 M 1 732 M 1 732 M
P/E ratio 2020 -0,30x
Yield 2020 -
Capitalization 110 M 134 M 134 M
EV / Sales 2020 0,82x
EV / Sales 2021 1,27x
Nbr of Employees 9 601
Free-Float 58,7%
Chart EUROPCAR MOBILITY GROUP SA
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Europcar Mobility Group SA Technical Analysis Chart | EUCAR | FR0012789949 | MarketScreener
Technical analysis trends EUROPCAR MOBILITY GROUP SA
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 0,59 €
Last Close Price 0,71 €
Spread / Highest target -3,89%
Spread / Average Target -16,6%
Spread / Lowest Target -36,4%
EPS Revisions
Managers and Directors
NameTitle
Caroline Parot Chief Executive Officer
Jean-Paul Bailly Chairman-Supervisory Board
Olivier Baldassari Group Chief Countries & Operations Officer
Luc Etienne Péligry Chief Financial Officer
Stéphane Deux Director-Information Technology
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