logo
Plus   Neg
Share
Email

Avis Budget Group To Acquire Apex Car Rentals - Quick Facts

Avis Budget Group Inc.(CAR) Wednesday said that it agreed to acquire Apex Car Rentals. As per the purchase agreement, Avis Budget will acquire the assets of Apex in exchange for approximately US$29 million in cash, plus the book value of Apex' rental fleet and potential earn-out payments based on Apex' future financial performance.

The acquisition is scheduled to close in October 2012, subject to customary closing conditions.

Apex Car Rentals was founded in 1992 and has traditionally served value-oriented leisure travelers. Apex Car Rentals is New Zealand's largest independently owned car rental company and offers a comprehensive fleet of more than 4,000 rental cars through locations in New Zealand and Australia, including locations serving New Zealand's major airports.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon.com Inc. will continue to work with the U.S. Department of Defense or DoD despite criticism from its employees and privacy activists, the company's Founder and Chief Executive Jeff Bezos said Monday. "If big tech companies are going to turn their back on the DoD, this country is going to be in trouble," Bezos said during the Wired25 conference in San Francisco. The Goldman Sachs Group, Inc. (GS) reported earnings per common share of $6.28 for the third quarter of 2018 compared to $5.02 for the third quarter of 2017. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $5.38 for the quarter. Analysts' estimates... Johnson & Johnson (JNJ) on Tuesday, while reporting financial results for the third quarter, raised its adjusted earnings and sales forecast for fiscal 2018. The company raised full-year outlook for adjusted earnings to a range of $8.13 to $8.18 per share. This reflects an increase in expected operational...
Follow RTT