Label: Highlight
Subject: Corporate & M&A , Insolvency & Restructuring

Prager Dreifuss Advises Investment Fund Attestor on the Successful Takeover of Europcar Mobility Group

Prager Dreifuss AG is advising Attestor Limited and Trinity Investments DAC („Attestor“) in connection with the acquisition of the listed car-rental service Europcar Mobility Group. The takeover offer was launched in July 2021 by Green Mobility Holding S.A., which is held by Attestor (27%), Volkswagen AG (66%) and Pon Holdings B.V. (7%) (the „Consortium“).

The Consortium’s takeover offer received antitrust clearance by the European Commission on 25 May 2022. On 10 June 2022, the Autorité des Marchés Financiers („AMF“) announced that the offer had reached 87.3%, thereby well exceeding the minimum acceptance threshold of 67%. On 5 July 2022, the AMF announced that 93.4% of the shares were tendered during the supplemental period. As previously announced, the offer price thus increased from EUR 0.50 to EUR 0.51 per share, resulting in a transaction value of EUR 2.9 bn. Reaching the threshold of 90% now allows the Consortium to implement the squeeze-out proceedings.

Prager Dreifuss (Daniel Hayek, Laura Richenberger) advised Attestor on corporate, capital markets and commercial aspects of this large cross-border transaction. Attestor is an owner-managed investment fund specialized on turnaround and distressed-debt situations.