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Eurazeo hires Rothschild for Europcar IPO, sale to Hertz possible

21 Feb 2014

car headlightsq_lrgFrench investment house Eurazeo has reportedly hired Rothschild to run an IPO of car rental business Europcar.

Eurazeo bought Europcar in a €3.08bn deal from German car-maker Volkswagen about eight years ago, and refinanced the business in the summer of 2012.

That deal saw it take an 85.2 per cent stake using €663m of equity, paying 16.5 times the company’s 2006 EBIT.

The firm is eyeing a French listing or sale to US car hire group Hertz according to Bloomberg.

Last month NYSE Euronext-listed Eurazeo acquired an 83.5 per cent stake in French games developer Asmodee.

Eurazeo invested €98m, with company management investing a further €14m.

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