Tagged Mergers & Acquisitions

Sixt Signs Agreement to Sell DriveNow to BMW

Sixt has signed an agreement with BMW Group on the sale of its entire stake of DriveNow.


Daimler, BMW Reportedly Merging Car-Sharing Services

The merger is likely an effort by the German brands to compete with U.S.-based ride-hailing services such as Uber and Lyft.


Verizon Telematics Expands Offerings

Verizon Telematics has become the largest provider of built-in telematics and mobile applications for commercial vehicles and has moved closer to rebranding its product offerings for its customers, CEO Andrés Irlando told an audience gathered at the annual Latitude conference.


Enterprise Acquires German-Based CARO Autovermietung

Enterprise Rent-A-Car Germany has announced the signing of an agreement to acquire CARO Autovermietung GmbH. The combined business will have more than 200 locations and a fleet of appoximately 17,000 vehicles.


Vehicle Logistics Firms MetroGistics, AmeriFleet to Merge

The merger will consolidate the fleet-related services of both companies with the goal of targeting new markets and service lines.


Avis Budget Completes Acquisition of France Cars

Avis Budget Group Inc. has completed its previously announced acquisition of France Cars, expanding the company's presence in the French vehicle rental market.


How Car Rental Companies Are Not Like Airlines

The comparison comes up regarding consolidation and its ability to improve pricing — but it’s not apples to apples.


GM to Acquire Autonomous Vehicle Tech Firm

Cruise Automation, based in San Francisco, will operate as an independent unit within GM’s recently formed autonomous vehicle development team.


Union Leasing Closes Walser Fleet Acquisition

Union Leasing has closed its acquisition of Walser Leasing and Fleet Services, which will grow the company's fleet leasing asset portfolio by 16%, according to the parent holding company.


Union Leasing Acquires Walser Leasing and Fleet Services

The sale did not include Walser Specialized Services, which provides acquisition services to car rental companies and commercial fleets.


Element to Acquire GE Capital's Fleet Business

Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.


Avis Budget Group Completes Acquisition of Zipcar

Zipcar adds its 775,000 members worldwide to Avis Budget Group's network of more than 10,000 rental locations available globally from Avis and Budget.


Avis Budget Group Completes Funding, UK Clearance for Zipcar Acquisition

After announcing the completion of $525 million in debt financing and receiving regulatory clearance in the UK, Avis and Zipcar expect to close the merger during the week of March 11.


Zipcar Stockholders Approve Acquisition by Avis Budget Group

Avis Budget Group and Zipcar announced on March 7 that Zipcar stockholders voted to approve the adoption of the merger agreement with Avis Budget Group.


Avis Budget Group to Acquire Zipcar

The total transaction is valued at approximately $500 million and is expected to be completed in the spring of this year.


Priceline to Acquire Kayak in a Transaction Valued at $1.8 Billion

The boards of directors of the Priceline Group and KAYAK have unanimously approved the transaction, which is subject to customary closing conditions, but is expected to close by late first quarter of 2013.


Green Motion to Operate Under Local Car and Van Rental Limited in UK

In a new acquisition, Local Car and Van Rental Limited (LCRV) will operate the Green Motion UK Master Franchise via its subsidiary company Green Motion Car and Van Rental Limited.


Avis Budget Group Enters Agreement to Acquire Apex Car Rentals of New Zealand

Avis Budget Group will acquire Apex Car Rentals, including its fleet of 4,000 vehicles throughout New Zealand and Australia, for $29 million.


Ecologic Transportation Enters Letter of Intent for Ace Rent A Car Acquisition

The agreement with Ace is to purchase all aspects of the business, including its reservations and management systems, in order to form a ‘pure environmental’ car rental company.


Zipcar Acquires Austrian Car Sharing Service

Denzel Mobility CarSharing GmbH is a car sharing service in Austria offering 200 vehicles for 10,000 members across Vienna, Innsbruck, Salzburg, Graz and other cities in the country.


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