Franchise Services of North America Inc. has announced that it has signed a letter of intent with Mr. Abdul Wahed Al Kooheji to enter into a Master Franchise Agreement covering seven countries in the Middle East.
The agreement will grant exclusive rights to Mr. Al Kooheji for the development of U-Save Auto Rental businesses in the Kingdom of Bahrain, United Arab Emirates, Sultanate of Oman, Saudi Arabia, Qatar, Kuwait and Morocco.
Robert M. Barton, Chief Operating Officer, FSNA, says Mr. Al Kooheji has operated Avis Rent A Car and other US restaurant brands in the region and is the owner of the Century 21 Master Franchise in parts of the Middle East.
In November 2006, U-Save Auto Rental of America Inc. and Rent-A-Wreck Capital Inc. completed a reverse takeover transaction. The resulting company, FSNA, is a publicly traded company on the Canadian TSX Venture Exchange.
The company and its subsidiaries own the following brands: U-Save Car & Truck Rental, U-Save Car Sales, Rent-A-Wreck of Canada, Auto Rental Resource Center (ARRC), Xpress Rent A Car and Peakstone Insurance.