Dollar Thrifty Automotive Group in Acquisition by Hertz
April 26, 2010
Cleary Gottlieb is representing Dollar Thrifty Automotive Group in its acquisition by Hertz Global Holdings, Inc. The transaction was announced on April 26 and is subject to customary closing conditions and regulatory and other approvals.
Through its Dollar Rent A Car and Thrifty Car Rental brands, Dollar Thrifty has been serving value-conscious travelers since 1950. Dollar Thrifty maintains a strong presence in domestic leisure travel in virtually all of the top U.S. and Canadian airports, and also derives a significant portion of its revenue from international travelers to the United States under contracts with various international tour operators. Dollar and Thrifty have approximately 300 corporate locations in the United States and Canada, with approximately 6,000 employees located mainly in North America. In addition to its North American operations, the company maintains global service capabilities through an expansive international franchise network of over 1,250 franchises in 81 countries.
Hertz is the largest worldwide airport general use car rental brand operating from more than 8,200 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the United States and at 78 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the company has licensee locations in cities and airports in Africa and the Middle East.