Enterprise Holdings has confirmed it will acquire car rental firm Citer SA from PSA Peugeot Citroën of France.
With a fleet of approximately 30,000 vehicles, Citer SA has deep coverage through locations in the main cities, railway stations and airports in France and Spain, two key European markets in which Citer ranks among the leading vehicle rental companies.
The deal will also include Spanish subsidiary Atesa.
The transaction has received a positive opinion of the works councils of PSA Peugeot Citroën and Citer SA.
It is subject to regulatory approval and certain other customary closing conditions.
The transaction should be completed by the end of 2011.
Through its regional subsidiaries, Enterprise Holdings owns and operates the National Car Rental and Alamo Rent A Car brands, as well as its flagship Enterprise Rent-A-Car brand in North America.
The company also operates the Enterprise Rent-A-Car brand in the UK, Germany and Ireland, and a licensee network that operates the National and Alamo brands throughout the Americas.
Since entering Europe in 1994, the Enterprise Rent-A-Car operations have expanded rapidly, and now include 4,000 employees in the UK, Germany and Ireland.
Today, the Enterprise network includes more than 200 branch offices in Ireland and Germany and, as the largest car rental business in the UK, more than 360 branches located within five miles of 75 percent of the UK population.
This acquisition further expands Enterprise Holdings’ European presence into France and Spain.