Today 09/29/2016 - 05:38:00 PM
Peugeot SA 13.445€
CAC 40 4,443.84 PTS
PSA Peugeot Citroën announced today the completion of the sale of PSA’s short-term car rental subsidiary, Citer SA and its Spanish subsidiary Atesa, to Enterprise Holdings, which was announced on November, 21st, 2011.
This rental car asset disposal is part of the PSA Peugeot Citröen’s strategy to allocate its resources to develop its core business. This transaction results in a c. €440 million reduction of the net financial debt of PSA Peugeot Citroën. The transaction received a positive opinion by the Works Councils of PSA Peugeot Citroën and Citer SA, and regulatory approval* from the European Commission.
With a fleet of approximately 30,000 vehicles, Citer SA has deep coverage through locations in the main cities, railway stations and airports in France and Spain, two key European markets in which Citer and Atesa rank among the leading vehicle rental companies. PSA Peugeot Citroën has emphasized the strategic opportunity that the transaction represents for Citer and Atesa, which will be able to step up its development while benefiting from Enterprise Holdings’ leadership.
Through its regional subsidiaries, Enterprise Holdings owns and operates the National Car Rental and Alamo Rent A Car brands, as well as its flagship Enterprise Rent-A-Car brand in North America. The company also operates the Enterprise Rent-A-Car brand in the UK, Germany and Ireland, and a licensee network that operates the National and Alamo brands throughout the Americas.
About PSA Peugeot Citroën
With its two world-renowned brands – Peugeot and Citroën – the Group sold 3.6 million vehicles worldwide in 2010, out of which almost 40% outside Europe. As Europe’s second largest carmaker, it recorded sales and revenue of more than €56.1 billion in 2010. PSA Peugeot Citroën has sales offices in 160 countries. In 2010, the Group dedicated more than €2 billion to research and development, especially in new energies. Its activities also are involved in financing activities (Banque PSA Finance), logistics (Gefco) and automotive equipment (Faurecia).
* Under the reference “case No comp/M.6437-Enterprise Holdings / Citer.”
PSA Peugeot Citroën Press Contact:
Jean-Baptiste Mounier (33) 188.8.131.52.00
Communications Department - 75 avenue de la Grande Armée - 75116 Paris
Telephone (33 1) 40 66 42 00 - Fax (33 1) 45 00 54 52 – www.psa-peugeot-citroen.com