Global law firm White & Case LLP has advised Goldman Sachs International and Société Générale as Global Coordinators, Joint Lead Managers and Joint Bookrunners on Europcar Groupe's €175 million capital increase.
The capital increase was realized through a private placement to qualified investors and resulted in the issuance of 14,612,460 new ordinary shares, representing approximately ten percent of Europcar Groupe's share capital.
The subscription price amounted to €12 per new ordinary share, representing a discount of 3.23 percent compared to the closing price of the shares on Euronext Paris on June 20, 2017.
Eurazeo has subscribed for 2.5 million new ordinary shares in the capital increase and will as a result hold 39.22 percent of Europcar Groupe's share capital.
Europcar Groupe intends to use the proceeds of the capital increase to bolster its share capital and maintain an efficient and robust capital structure in the context of financing its external growth strategy, in particular completing targeted acquisitions including the planned acquisitions of Buchbinder and Goldcar.
Europcar is the European leader in vehicle rental service and a major player in mobility markets, active in more than 130 countries. Europcar Groupe is listed on Euronext Paris.
The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard with support from associates Tatiana Uskova and Isabelle Touré-Farah. Partner Colin Chang, with support from counsel Max Turner, advised on matters of US law and partner Alexandre Ippolito, with support from associate Charline Schmit, advised on tax aspects.
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