International car rental company Europcar is in negotiations to transfer the rights to use its brand to another car rental and leasing company. Europcar representatives recently visited Israel to discuss the issue with, among others, Albar Ltd., which is setting up car rental activity alongside its leasing business.
Use of Europcar's known international brand could help the branding of rental activity in Israel, and give access to the international rental activity overseas by the marketing of rental coupons in Israel.
The Europcar brand has undergone a number of incarnations in Israel. In 2004, Eldan Ltd. owner Joseph Dahan acquired the Israeli Europcar franchise from a consortium of three car importers for NIS 230 million. Dahan merged the franchise with Eldan, and then sold the Europcar franchise to Metis Capital Ltd. (TASE: MTSC), which set up a car leasing and rental company two years ago.
Metis is now liquidating its Europcar activity in Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on November 27, 2008
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