Advantage Rent A Car asset sale to Catalyst completed
Franchise Services of North America Inc (TSX-V: FSN) has completed its sale of 41 U.S. airport concession agreements used by Advantage Rent A Car (a.k.a. Simply Wheelz LLC) to Canadian private equity firm Catalyst Capital Group. As reported by peHUB Canada earlier this week, the consideration was a credit bid of US$46 million against the debtor-in-possession facility provided by Catalyst to Advantage-Simply Wheelz, plus the assumption of certain liabilities. Franchise Services bought the company from Hertz Global Holdings Inc in 2012.
1 May 2014•3 mins read
