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Car hire group Europcar in talks on financial restructuring

PARIS, Sept 7 (Reuters) - French car hire company Europcar , one of many transport companies to have been hit by the COVID-19 pandemic, said on Monday it was in talks about a financial restructuring.

“The group’s objective is to ensure a sustainable capital structure adapted to its level of revenue, with reduced corporate indebtedness and appropriate liquidity,” Europcar said in a statement.

Previously owned by Volkswagen, Europcar was bought by investment company Eurazeo in 2006 and listed on the stock market in 2015. Eurazeo still has a stake of around 29.9% in Europcar.

Reporting by Gwenaelle Barzic; Editing by Susan Fenton

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