THE French financial regulator has approved the takeover of Europcar by a consortium led by Volkswagen.

According to an official statement, the French market regulator AMF (Autorite des marches financiers) has approved the takeover offer from Green Mobility Holding SA.

The start of the acceptance period for the tender of shares in Europcar Mobility Group will be announced by the AMF. Green Mobility Holding called it

“an important milestone in the planned acquisition of Europcar.”

Green Mobility Holding is a consortium led by The Volkswagen Group, together with its partners, the asset management firm Attestor Limited and Dutch mobility group Pon Holdings BV.

Volkswagen and Europcar have previous form, VW having owned the rental business between 1999 and 2005.

Speaking in spring this year at the first Volkswagen Way to Zero Convention, Ralf Brandstätter, CEO of Volkswagen, said:

Volkswagen stands for sustainable e-mobility for all. We’ve set out on the ‘Way To Zero’ and are consistently placing the environment at the focus of all our activities. Our big electric offensive was just the start. We’re taking a holistic approach to decarbonisation: from production through service life to recycling.

The acquisition of Europcar looks to form part of this sustainable mobility strategy.

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