Hertz Global Holdings has entered into a stock and asset purchase agreement to sell substantially all of the assets of its wholly-owned fleet management subsidiary, Donlen, to Athene Holding, a leading financial services company.
Hertz My Car provides three all-inclusive subscription tiers that offer a variety of vehicles to fit customers' budgets and includes liability protection and premium roadside assistance.
Hertz CEO Paul Stone cited U.S. rental volume improvements since Labor Day and domestic revenue improvements of 14 points from July to September.
The financing, expected to be structured as an asset-backed securitization short-term facility, will fund the purchase of about 229,000 vehicles in 2021.
Customers will get one day free when they reserve a car for at least two days and pick up on Nov. 2 or 3 from participating Hertz neighborhood locations.
After losing his job to COVID-19 layoffs, Andrei Popow continued his worked delivering PPE to essential workers, even though he didn’t have a vehicle and had to pay for a rental car. Now, he'll be able to expand his work thanks to his new vehicle.
Kenny K. Cheung was recently promoted to executive VP of finance and chief operational finance and restructuring officer.
When normal incentive structures go out the window, how do you keep key talent in times of severe financial distress?
Hertz is evaluating two loan offers of about $1 billion to $1.5 billion.
