Car rental company Europcar hires Rothschild for IPO -paper
PARIS, March 20
PARIS, March 20 (Reuters) - Car rental company Europcar, owned by French investment fund Eurazeo, has hired investment bank Rothschild to launch an initial public offering (IPO), financial daily Les Echos reported on Thursday without citing sources.
Eurazeo declined to comment. Representatives at Rothschild and Europcar could not immediately be reached for comment.
Eurazeo said on Wednesday that it would continue to review its portfolio and could proceed this year with further disposals. These totalled 1.1 billion euros ($1.53 billion) last year and helped the group to post net profit of 561 million euros, compared with a 238 million euro net loss in 2012.
Asked about the future of its 87 percent stake in Europcar and potential for listing the business via an IPO, Eurazeo said that all strategic options were on the table.
Europcar's website says that the business manages a fleet of more than 200,000 rental vehicles, available at over 600 locations in 160 countries. ($1 = 0.7189 Euros) (Reporting by Natalie Huet and Matthieu Protard; Additional reporting by Gilles Guillaume; Editing by David Goodman)
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