By the end of 2019, Avis Budget Egypt aims to have a fleet of 1,000 vehicles and 50 rental locations.
"Current market speculations and media reports in the USA that Sixt SE is interested in acquiring Hertz are completely unfounded and false," officials said in a statement.
Bobit Business Media has been acquired by Gemspring Capital, a middle-market private equity firm. Bobit, which bought HDT in 2012, was founded by Ed Bobit in 1961 with Automotive Fleet and today is a successful business-to-business media company in the fleet, transportation, beauty, and law enforcement industries.
Gores Holdings has been renamed Verra Mobility Corporation.
The acquisition adds approximately 3,000 vehicles to Avis Budget Group’s network in Portugal and is a key step in strengthening its commitment to the local market.
Bluebird Auto Rental Systems, LP, was established in 1993 when Angela Margolit and a handful of limited partners purchased the auto rental division of Bluebird Systems.
Established in 1999, Nexus connects vehicle rental companies with corporate customers via a proprietary online booking and rental management system.
Cathedral Consulting facilitates “Dealer 20 Performance Groups,” allowing independent automotive leasing, and now, rental business leaders, to share operating results, best practices and ideas in a non-competitive environment.
According to sources, who declined to be named because the talks are private, the companies have discussed numerous potential deal structures, but haven’t come to a final agreement.
The acquisition has enabled Edge Auto Rental to expand into the trucking and labor sector by adding CBS Network, NY Philharmonic Concerts in the Parks, and the Metropolitan Opera, to its roster.