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Europcar set for £450m NCR parent acquisition

Date: 13 November 2006

The UK's daily rental landscape is set to shift with Europcar signing a 670m Euro (£450m) deal to take control of Vanguard Car Rental Holdings, parent of National Car Rental and Alamo Rent A Car.

The deal's been agreed but it needs to pass through several regulatory hoops such as the European Competition Commission and American anti-trust regulation, with final sign-off not expected until at least spring 2007. That means the UK won't feel any affect of the acquisition until at least next summer, although any merging of the rental giants will in all likelihood take significantly longer.

The agreement covers Vanguard's entire European business of 43,000 vehicles, although 84% of its revenue is in the UK where NCR is market leader. Europcar is already the biggest rental brand in Europe.