PARIS: European investment firm Eurazeo is exploring a partial or full sale of its near 30 per cent stake in Europcar Mobility Group as it seeks to cash out from the troubled French car rental company, sources told Reuters.
Eurazeo said in a statement it was reviewing strategic options for the company following the Reuters report.The business, advised by BNP Paribas and Rothschild, is saddled with 851 million euros of net debt as of September. Eurazeo is wary of selling at a discount and would retain at least part of its stake if it couldn't negotiate an attractive price, one of the sources said.Some of the bidders may also consider bidding for the whole company as this would allow them to delist the business and turn it around away from the public markets, some of the sources said, cautioning that no deal was certain.
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