Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: Comments sought for sale of closed Advantage rental car locations, (Jul 14, 2014)
Organizations Mentioned:Avis Budget Group | Avis Budget Group, Inc. | Catalyst Group LLC | Dollar Thrifty Automotive Group, Inc. | Franchise Services of North America, Inc. | Hertz Global Holdings, Inc. | NORTH AMERICA | Sixt Rent-A-Car
By Greg Hammond, J.D.
Franchise Services of North America, Inc. (FSNA) is seeking FTC approval for the sale of two former Advantage rental car locations in Portland and San Jose to Avis Budget Group and Sixt Rent-A-Car, respectively. The Commission is requesting public comments on FSNA’s application (In the Matter of Hertz Global Holdings, Inc., FTC File No. 101 0137, Case No. C-4376).
According to the FTC, FSNA’s petition to sell the two closed Advantage rental car locations comes after the company—through a subsidiary—filed for Chapter 11 bankruptcy protection. The Portland and San Jose locations were originally purchased from Hertz Global Holdings, Inc., which was required to sell 68 Advantage locations to resolve charges that its $2.3 billion acquisition of Dollar Thrifty Automotive Group, Inc. would have been anticompetitive. FSNA sold 40 of the Advantage locations to Catalyst Group LLC, and the FTC previously approved the sale of 22 locations to Hertz and Avis Budget Group. Including the Portland and San Jose sites, there are six closed Advantage locations left to be sold by FSNA.
The Commission will determine whether the sale of the two locations should be approved after a 30-day public comment period that ends August 12, 2014. Written comments should be mailed to: FTC Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, D.C. 20580. Comments may also be submitted electronically.
Companies: Franchise Services of North America, Inc.; Hertz Global Holdings, Inc.; Avis Budget Group; Catalyst Group LLC; Dollar Thrifty Automotive Group, Inc.; Sixt Rent-A-Car
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