FRANCE - Eurazeo agrees to buy Europcar for EUR 3bn

Eurazeo today announced it had reached a final agreement with Volkswagen AG regarding the acquisition of 100% of the capital of Europcar, the European car rental outfit, for EUR 3bn. The terms of this agreement have been approved by the management board of Volkswagen AG. The completion of the transaction is subject to two conditions: formal ratification by the Volkswagen AG supervisory board and clearance from the relevant competition authorities, which should take place during the second quarter of 2006.