CADE, Brazil's antitrust division, has authorized Localiza Rent a Car’s purchase of rival Unidas.
The partnership will help drive new mobility business models for Localiza such as a subscription-based car rental program.
The deal, valued at about $2.18 billion, faces antitrust scrutiny as it reduces the largest players in the market from three to two.
As part of the agreement, which was originally announced on Dec. 5, 2016, Hertz Global Holdings Inc. has now completed the sale of its Brazil car rental and leasing operations to Localiza.
Localiza, a South American rental car company, has launched Localiza Fast, a self-service car rental process through a mobile app.
Hertz has reached a long-term agreement with South America’s car rental company, which includes Localiza's purchase of the Hertz operations in Brazil and combined Localiza Hertz branding in Brazil.
Brazilian-based car rental company Localiza has selected Kony Inc., a mobility company, to build mobile apps for its car rental services, including an app for customers to make reservations and an app for shuttle airport pickup.
Under the new partnership with GOL Linhas Aereas Inteligentes airline, Localiza Rent a Car will offer a 20% discount on car rentals to customers who book on GOL’s website.
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