28th
July
2010
Avis amends Dollar Thrifty credit agreement
posted in Car Rental |
The ongoing battle for control of Dollar Thrifty has taken another twist.
The dispute, which has seen Hertz, the second largest US car rental company, and Avis, the third largest, locked in an increasing bitter battle for the smaller outfit, has been ongoing since before last Christmas, when Hertz offered the initial USD$1.2 billion bid that sent shockwaves across the American car hire industry.
Now, the Avis Budget Group has announced that it has amended its credit facility in order to secure the necessary financing for a possible takeover of Dollar Thrifty. Recent poor performances on the stock market had meant that [...]
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