Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Jun. 9, 8:13 AM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #18. Avis Budget Group, Inc. — Edmonton Budget Licensee
Acquirer:
Avis Budget Group, Inc. (NASDAQ:CAR)
Acquiree:
Edmonton Budget Licensee
Details:
Avis Budget Group, Inc. (Nasdaq:CAR) announced today that it has agreed to acquire its existing Budget Car & Truck Rental licensee in Edmonton, Alberta, Canada, comprising 26 rental locations in seven cities in total. This investment of approximately $30 million, plus the cost of acquired fleet, will enable the Company to expand its footprint of Company-operated locations while offering Budget customers a consistently outstanding rental experience and capturing a larger share of Canada's domestic, international-inbound and truck rental spend.
Avis Budget Group is a provider of mobility solutions through its three brands, Avis, Budget and Zipcar, together with several other brands. Co.'s segments are: Americas, which provides and licenses its brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets; and International, which provides and licenses its brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia and Australasia, and operates its car sharing business in certain of these markets.
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Avg. Broker Rec.
 
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Buy (2.86 out of 4) 19th percentile
(ranked lower than approx. 81% of all stocks covered)
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