The operation should be completed between the end of 2021 and the beginning of 2022, "without significant consequences" for employment, Europcar said in a press release.

The board of directors of Europcar announced on Wednesday that it had approved the takeover offer from a consortium led by Volkswagen, which would value the lessor at 2.5 billion euros.

The operation should be completed between the end of 2021 and the beginning of 2022, "without significant consequences" for employment, Europcar said in a press release.