PARIS--(BUSINESS WIRE)--Apr. 28, 2020--
Europcar Mobility Group (Paris:EUCAR):
As part of the cash preservation plan announced on March 23rd and updated on April 15th 2020, with first the finalization of lines of financing 70% guaranteed by the Spanish State for an amount of €36 million, the group announces the finalization of the second tranche of this Spanish State guaranteed program, with new 3-year maturity lines for a global amount of € 31.25 million for its two operating subsidiaries in Spain - under the Europcar and Goldcar banners – which consolidate the Group's liquidity to enable it to meet its vehicle financing needs and its corporate needs related to the impacts of the COVID-19 pandemic.
The Group is continuing its negotiation, within the framework of the processes supervised by the Ministry of the Economy and Finance, with some of its lending banks to obtain additional financing guaranteed by the French State via the BPI. The Group is also continuing its efforts through its foreign subsidiaries in countries where similar support measures have been deployed. The outcome of these initiatives will be communicated in due course.
Q1 results will be communicated on the 5th May after the closing of the stock exchange.
About Europcar Mobility Group
Europcar Mobility Group is a major player in mobility markets and listed on Euronext Paris. The mission of Europcar Mobility Group is to be the preferred “Mobility Service Company” by offering attractive alternatives to vehicle ownership, with a wide range of mobility-related services and solutions: car rental and light commercial vehicle rental, chauffeur services, car-sharing, scooter-sharing and private hire vehicle (PHV – rental to “Uber like” chauffeurs).
Customers’ satisfaction is at the heart of the Group’s mission and all of its employees and this commitment fuels the continuous development of new services. Europcar Mobility Group operates through a diversified portfolio of brands meeting every customer specific needs and use cases, be it for 1 hour, 1 day, 1 week or longer ; its 4 major brands being: Europcar® - the European leader of car rental and light commercial vehicle rental, Goldcar® - the low-cost car-rental Leader in Europe, InterRent® – ‘mid-tier’ car rental and Ubeeqo® – one of the European leaders of round-trip car-sharing (BtoB, BtoC).
Europcar Mobility Group delivers its mobility solutions worldwide solutions through an extensive network in over 140 countries (including wholly owned subsidiaries – 18 in Europe, 1 in the USA, 2 in Australia and New Zealand – completed by franchises and partners).
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Source: Europcar Mobility Group