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 top tier vehicle rental companies. PSA Peugeot Citroen emphasized the strategic opportunity that the transaction represents for Citer, which will be able to step up its development while benefiting from Enterprise Holdings' leadership.

Andrew C. Taylor, chairman and chief executive officer at Enterprise Holdings, said: ‘With no overlap or duplication to our current operations in Europe, this will be a great strategic fit. There are more than 1,000 employees at Citer and Atesa have built successful rental car operations in both France and Spain. We look forward to the prospect of welcoming them to our team."

‘It's also important to note that more and more of our customers are asking us to expand our footprint in Europe,’ Taylor continued. ‘Joining forces with Citer responds to those travelers' needs and opens up new markets that are highly complementary to our existing European operations. Over the years we've learned that when we listen to our customers, they lead us to opportunities, and this certainly is one of those opportunities.’

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.

The transaction is expected to be finalised by the end of 2011.