CADE, Brazil's antitrust division, has authorized Localiza Rent a Car’s purchase of rival Unidas.
The previous months brought some life back to tourism in Brazil, which had been down since April due to the current global pandemic.
The new locations — which are already taking reservations — join the National Car Rental and Alamo Rent A Car brands in all three countries.
Operated by Brazilian service 99, the partnership will allow customers to request vehicles without going to another app.
The deal, valued at about $2.18 billion, faces antitrust scrutiny as it reduces the largest players in the market from three to two.
In Brazil, the local vehicle leasing business has dropped by 25%, while the Brazilian car rental industry has taken a 90% hit.
Brazil’s car rental industry grew to a record number of daily rentals in 2019, driven by rentals to drivers for transportation network companies (TNCs).
Based in Sao Paulo, Vai.Car plans to use the funding to increase its vehicle fleet.
Enterprise Holdings has opened its first Brazilian Enterprise Rent-A-Car locations as part of a broader growth strategy in the region to provide airport travelers and road trippers with a wide range of reliable vehicles to suit their needs.
The Veiculo Eletrico Latino-Americano event in Sao Paulo on Oct. 1-3 brought together stakeholders to demonstrate EV technology and share market developments.
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