Hertz purchase by Brazil finds 337 million R$

Localiza Rent a Car closed on Monday the purchase of Hertz Brazil with the Hertz Corporation. The acquisition has its value estimated at 337 million dollars, corresponding to the value of shareholders '' equity over the company''s debt, which will be liquidated after the closing of the transaction. The final figure will be set according to the Hertz Brazil to be lifted on the date of completion of the deal.
With the acquisition, the Fleet will take a fleet of about 9,200 cars from Hertz Brazil, which includes about 3,700 cars in the fleet management business. The Hertz car rental Brazil has about 5,500 cars and a network of 42 branches, being sixteen located at airports. This does not include agencies network of franchisees.
As part of the strategic alliance between the companies, the finds and the Hertz Corp. will establish a long-term global agreement which includes, among others, the use of the mark is located in Brazil and Hertz combined use, by Hertz, the brand is located in the main airports of the United States and Europe, considered input destinations of Brazilian clients.
The operation comprises the acquisition of any equity interest in Hertz Corp. by Finds, or vice versa. "The Finds will continue operating their businesses independently and autonomously", informs the company in fact, noting that the operation shall include also the exchange of new technologies, know-how and executives between the two companies.
The completion of the transaction is subject to approval of the Administrative Council for economic Defense (Cade) and during the analysis period, the companies will continue operating independently.