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Europcar reponse to VW sale reports
Business as usual, is the response of Europcar General Manager Australia, Eoin MacNeill to last week’s sale of Europcar International by Volkswagen to the French investment group Eurazeo.
Mr MacNeill said the ownership change would have no impact on Europcar Asia Pacific’s business structure, operations and key business alliances across the region.
“We are pleased with the sale and the valuation achieved by our parent because it demonstrates that car rental is a valued commodity,” he said.
“The sale aligns us in the Asia Pacific in terms of our ownerships being both private equity firms and their desire to expand operations internationally including China,” he said.
In December 2004, Asia-based equity group Navis Capital Partners was the key investor in a management group’s purchase of Australia’s Europcar franchisee and the Asia Pacific franchise rights from Europcar International.
Europcar Asia Pacific CEO, Doug Hunt said the master franchise was the largest of its kind ever granted by Europcar International and would continue under the new ownership of Europcar International.
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