Avis Greece for sale, as they celebrate record year 2016

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Leading car rental company Avis Greece celebrated its great performance in 2016 at a gathering in central Athens this week, amid Greek media reports of the company’s imminent sale.

A total of 24 companies are interested in Avis Greece, the country’s leader in car and truck rentals and leasing, with the final date of submission of non-binding offers set for next Friday, February 10.

Addressing an audience on Wednesday, Avis Greece President Apostolos Tamvakakis said there was “nothing to fear from the sale of the company,” and assured guests that “strong companies such as Avis have a future and prospects, irrespective shareholder.”

The company’s main shareholder, Piraeus Bank, has already proceeded with the necessary documentation for the sale, which has attracted the interest of Dutch Lease Plan, ALD Automotive, Executive Lease, among others and it is also rumoured that local Greek businesses Vassilakis, Syngelidis and Sarakakis are also keen.

Avis Greece CEO Andreas Taprantzis added that 2016 was a successful year for the company, which managed to achieved all its goals.

AVIS Greece boosted its fleet by 8,600 vehicles in 2016, increased its long-term car lease orders by 29 percent and car rentals by 15 percent. In 2016, Avis Greece achieved an increase in turnover to 152.5 million euros with earnings at 76.3 million euros and EBITDA up by 41 percent against 2015 to 19.4 million euros.

GCT Team

This article was researched and written by a GCT team member.