Europcar, the car rental subsidiary of Volkswagen, will today (9 January 2006) begin making presentations to six potential buyers.
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Company management will present Europcar to six potential bidders over the next few days at a hotel in Paris, the Financial Times Deutschland said.
The interested companies will also have half an hour to present their plans for Europcar, with specific bids to be tabled at a later date. Europcar will select two candidates for further talks.
According to reports, the possible buyers do not include German car hire company Sixt, who will only return to the running if Volkswagen does not receive an acceptable offer from any of the other companies.
The companies invited to Paris include investors Cinven and Cerberus, according to the FT Deutschland.
