Eurazeo SE · EURONEXT:RF
Eurazeo — Merger or Acquisition (March 2006)
8 slides from Eurazeo's merger presentation, Mar 9, 2006
Slide 1: Acquisition of Europcar
Pe CURAZECO Acquisition of 9 March 2006
Slide 2: Context
Context 9 Company founded in 1949, purchased by Renault in 1970, then by Wagon-Lits (1988) which subsequently disposed of 50% of its stake to Volkswagen (VW) the same year. In 1999, VW acquired the stake held by Accor 9 23 September 2005: Announcement by Volkswagen regarding a potential disposal or
Slide 3: Overview of Europcar
Overview of Europcar • European: leader for short-term car rental for leisure Breakdown of sales 2005E by clients and business purposes Breakdown of sales 2004 by renting type (YTD Sept 05) Franchises internationales • Europcar operates own stations in 7 European 23% countries, the rest of the world
Slide 4: Seven corporate countries in Europe
Seven corporate countries in Europe 9 1,643 stations in Europe (630 Corporate, 473 franchisees, 540 agents) UK : 119 stations 9 1,446 non-airport and 197 airport stations 73 corporate 40 franchisees 6 agents 88 non airports France : 495 stations 31 airports 214 corporate 249 franchisees Belgium : 25
Slide 5: Franchise network
Franchise network 9 1307 stations (915 non-airport et 392 airport) in 145 countries Europe : 768 38 countries 206 airport 562 non airport America : 144 19 countries 59 airport 85 non airport Europcar Africa / Indian Ocean : 155 Presence Asia – Pacific : 167 39 countries 95 non airport 34 countries 6
Slide 6: Eurazeo's interest for Europcar
Eurazeo’s interest for Europcar 9 Our vision of Europcar: • Flourishing market environment, supported by good macroeconomic prospects in Europe and the increase in air traffic; • Leadership position in Europe; • Operational excellence, notably through a performing IT system and an efficient fleet ma
Slide 7: Transaction structure
Transaction structure 9 Initial equity invested by Eurazeo is about € 900M, ie about 27% of the total funds raised for the acquisition 9 Bridge loans to finance the acquisition, secured by Calyon, BNP-Paribas, Société Générale and Deutsche Bank. Refinancing of these bridge facilities notably through
Slide 8: Eurazeo's strategy for Europcar
Eurazeo’s strategy for Europcar • Continue the group’s development in Europe ; • Pursue the development of a worldwide network (United States, China, Japan) ; • Maintain operating and financing performance above its competitors • Ability of Eurazeo to finance the future growth 8