The deal, valued at about $2.18 billion, faces antitrust scrutiny as it reduces the largest players in the market from three to two.
The Brazil-based car rental company has filed for an initial public offering and hired several banks to underwrite the transaction.
Amending its master franchise agreement with the Brazilian-based car rental operator Unidas, Enterprise Holdings will now hold a 20% stake in Unidas and Unidas will now offer all three of Enterprise's car rental brands throughout Brazil.
Brazilian-based car rental agency Unidas hopes to use funds from an initial public offering to help expand its network.
Under a new agreement with car rental operator Unidas, Alamo and National will be available at more than 100 Brazil locations by March 2013.
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