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Ford Motor Sells Hertz for $5,6 Billion

Ford + Hertz

Concern Ford Motor sells the division on car rent Hertz for $5,6 billion, informs Business News.

Ford - Hertz = Clayton Dubilier & Rice, Carlyle Group and Merrill Lynch Global Private Equity

Representative Ford Motor has informed, that as the buyer of one of the largest networks on a car rent the group of the investors, consisting of the companies has acted: Clayton Dubilier and Rice, Carlyle Group and Merrill Lynch Global Private Equity.

The transaction total sum, including debts Hertz which will be taken up by buyers, will make more than $15 billion. Representative Ford Motor has declared, that registration of sale Hertz is planned to finish by the end of 2005.

The company Hertz Rent a Car totals more than 7,400 branches in 150 countries of the world. Besides it, company Hertz extends car rent coupons on the Internet. Ford Motor has got Hertz in 1994, and in 2001 the concern became the unique owner of this company. Get free online coupons you can round the clock, in any day of week.

On preliminary data, conditions of the preparing transaction provide, that till 2010 Hertz will continue use (advertising) of cars Ford, and the concern for it will pay half of advertising budget of the company.

The means received from sale Hertz, analysts consider, will allow Ford to strengthen the financial position in the conditions of growing expenses and the become hardened competition in the market. Besides it, hearings go, that company Hertz intends to master a new kind of business if is more concrete something connected with free shipping coupons.

Lotus Exige in Europe it will be possible to hire

Office HertzAlso, Hertz Rent a Car has filled up the European motor-vehicle pool with cars of marks Lotus, BMW and Fiat — Lotus Elise and Exige, BMW Z4 sDrive 23i and Fiat 500 Rosa will enter in so-called "Fun Collection", made of "unusual" models.

According to the president of European division Hertz Michael Taride, cars from "Fun Collection" are intended for those who wishes "to go with pleasure".

Sport cars Lotus Elise and Exige will be accessible only in Italian branches Hertz. Cost of hire of such car will make €458/days. Roadster BMW Z4 sDrive 23i can be hired in Spain, and this car will manage much more cheaply "Lotus" — only €121/days.

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