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Clarification: Hertz buys Thrifty

By / 8 years ago / Latest News / No Comments

A spokesperson said: 'Dollar Thrifty Automotive Group (DTAG) has agreed to recommend a bid from Hertz to purchase the shares of DTAG.  Whilst the success of this bid depends on shareholder acceptance and FTC approval, it does seem likely that Hertz will acquire DTAG during the last quarter of 2012.  
 
'The intention of the purchase is to strengthen the Thrifty and Dollar brands throughout the world.
 
'Scot Group Ltd holds the master franchise for the Dollar and Thrifty brands in the UK and Northern Ireland.  The current agreement expires at the end of 2015 but with an automatic option to renew (and at each further 10 years) ­ irrespective of DTAG ownership.
 
'Nothing therefore will change – Scot Group will continue to operate the Dollar & Thrifty brands in the UK and Northern Ireland and will continue to compete as strongly as ever in all UK markets.'

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