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June 19 (Reuters) - Europcar has signed an agreement to acquire Spain-based Goldcar, a low-cost car rental company, the French car rental group said on Monday.
The proposed transaction is based on an enterprise value of 550 million euros ($616 million) and is expected to generate close to 30 million euros in annual cost synergies by 2020.
Europcar said it had signed a dedicated bridge-financing with a large and international banking syndicate to support the deal, which is expected to close in the second half of 2017. ($1 = 0.8933 euros) (Reporting by Wout Vergauwen; Editing by Himani Sarkar)