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Hertz Gets $4.2B Purchase Bid in Plan to Exit Bankruptcy
The buyers, Knighthead Capital Management and Certares Management, would take at least a majority share and as much as 100% of the company. The proposed plan would pay in full all of Hertz's existing first- and second-lien debt and provide a 70% cash recovery to general unsecured creditors.
1 month, 2 weeks agoRelated Articles - Cars
Marriott Bonvoy partners with Uber in United States
Available across the United States, members who link their Marriott Bonvoy and Uber accounts in the Uber app will automatically start earning points on all qualifying transactions.
1 hr, 51 mins ago
Planning on Renting Your Vehicles on a P2P Platform for Gig Drivers? Be Aware of the Risks
As rising damage claims are now a significant barrier to profits for self-insured P2P platforms, those platforms are looking to minimize their losses in any way possible. The vehicle owners are the ones who suffer.
1 week, 1 day ago
FreeWire Boost Charger Cuts Costs for EV Fleets
The savings on installation and operations enables utilities and site hosts to rapidly and affordably deploy fast chargers to meet EV demand, according to an independent study.
1 week, 2 days ago
Fourth Tier Hires Andy Pratley
Pratley will spearhead the global growth strategy for Fourth Tier’s ERA car rental software solution.
1 week, 2 days ago
Court Awards SDI Attorney’s Fees after Prevailing in SDI v. Brown
In yet another victory under the Graves Amendment, this new decision involving SDI v. Brown reimburses SDI more than $60,000 for prevailing on a $2,200 dispute.
1 week, 3 days ago
Hertz Selects Centerbridge Partners as Equity Sponsor for Chapter 11 Exit
Hertz chose the renegotiated proposal over a competing one from Certares and Knighthead Capital. The plan keeps Hertz on track to exit Chapter 11 in June.
1 week, 4 days ago
Hertz Completes Sale of Donlen to Athene Holding
Hertz received $891 million in cash for the sale of the fleet management company.
1 week, 4 days ago
Manager of National Fleet Operations for Mazda Passes Away
Dave Funston, manager, national fleet operations for Mazda North American Operations, passed away on April 1, 2021, following a three-year battle with colon cancer. He was 61.He has the distinction, to date, of being longest reining fleet manager in the history of Mazda North American Operations.
1 week, 5 days ago
ACRA Provides Updates, Welcomes New Members
The American Car Rental Association’s April update includes information on airport MAG relief, vehicle cybersecurity guidance, COVID-19 liability protection bills, and $2 billion in unused grants — along with an April Fool’s joke.
1 week, 6 days ago
Savva Rent a Car Sues Getaround for Alleged Insurance-Related Fraudulent Business Practices
The lawsuit claims that Getaround has stalled over 100 claims by Savva — regularly disregarding its Terms of Service and Insurance Statement in the process.
2 weeks agoCategories
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