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 BERLIN (AP) - Volkswagen AG said Thursday that it will sell its Europcar unit, Europe's biggest car rental company, to French investment firm Eurazeo SA in a deal valued at 1.26 billion euros ($1.5 billion).
It did not say how Eurazeo will pay for Europcar. The deal would also include 2.06 billion ($1.73 billion) in debt.
The German car maker said it hopes to complete the deal, which needs approval from its supervisory board as well as competition regulators, by the end of June.
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