Deloitte Corporate Finance LLC Advises The Hertz Corporation in Corporate Divestiture to Localiza Rent a Car S.A.
CHICAGO, Nov. 22, 2017 — Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Florida-based The Hertz Corporation (Hertz), a leading vehicle rental and leasing business, in the divestiture of the Company’s Brazil operations to Localiza Rent a Car S.A. (Localiza), the largest car rental network in South America. The acquisition closed in August 2017.
Localiza acquired Hertz’s subsidiary in Brazil, and the parties established a global, long-term relationship through brand cooperation and referral agreements. As part of its engagement with Hertz, Deloitte Corporate Finance LLC (US) engaged Deloitte Corporate Finance professionals in Brazil to offer local markets knowledge and to help facilitate the transaction.
“After years of extending the Hertz brand into the Latin American market, Hertz’s Brazilian assets will be a tremendous addition to Localiza’s car rental network,” said Will Frame, managing director, Deloitte Corporate Finance LLC.
Reinaldo Grasson Oliveira, partner, Deloitte Financial Advisory Services, Brazil, added, “With the addition of Hertz’s rental car fleet, Localiza is well-positioned to further capture market share in Brazil.”
Headquartered in Estero, FL and founded in 1918, The Hertz Corporation rents cars, vans, crossovers, and light trucks under the Hertz, Dollar and Thrifty brands from company-owned, licensee, and franchisee locations in the United States, Africa, Asia, Australia, Canada, The Caribbean, Europe, Latin America, the Middle East, and New Zealand. The Hertz Corporation engages in the vehicle rental and leasing business. It operates through three segments: U.S. Rental Car, International Rental Car, and All Other Operations segments. It also offers vehicle leasing and fleet management services, including vehicle financing, acquisition, and remarketing; license, title, and registration; maintenance consultation; fuel management; accident management; toll management; telematics-based location, driver performance, and scorecard reporting; and lease financing services to commercial fleets. The Hertz Corporation is a subsidiary of Rental Car Intermediate Holdings, LLC. For further information please visit ir.hertz.com.
Headquartered in Belo Horizonte, Brazil and founded in 1973, Localiza Rent a Car S.A. engages in car rental and fleet management activities. It is also involved in fleet rental and franchising
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