Brazilian Car Rental Unidas Reveals Initial Public Offering Plans

Reuters reported that Brazilian car rental company Unidas plans to use funds from an initial public offering (IPO) to help expand its network, fund possible purchases and support its financial position.

Last week, shareholders approved the proposal for an initial public offering on the Novo Mercado of the Sao Paulo Stock Exchange, according to the Reuters report. Current shareholders include Portuguese group SAG, Vinci Partners, Gavea Investimentos, Kinea Investimentos and Itau Unibanco.

A source told Reuters that the IPO is anticipated to close in the third quarter, but there is currently no information on the size or timing of the offering.

According to the report, CPFL Energias Renovaveis SA, alternative energy unit of CPFL Energia SA, completed the first IPO in Brazil since April.

Click here for the full Reuters report: http://www.reuters.com/article/2013/07/23/brazil-unidas-ipo-idUSL1N0FT23A20130723

Unidas is the fourth largest car rental company in Brazil. In 2012, Enterprise Holdings announced a franchising agreement with Unidas for the use of its Alamo Rent A Car and National Car Rental brands in Brazil.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

My Number One Takeaway from ICRS 2017

This year’s International Car Rental Show (ICRS) opened the door to new business models facing transportation today — yet adapting to these new technologies is not the first key to survival.

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Job Finder: Access Top Talent. Fill Key Positions.

>