Court approves sale of Advantage Rent A Car to Catalyst Capital Group
Franchise Services of North America Inc (TSX Venture: FSN) announced that a Mississippi bankruptcy court has appoved the sale to Canadian private equity firm Catalyst Capital Group of certain assets of its subsidiary Simply Wheelz LLC, which does business as leased vehicle fleet operator Advantage Rent A Car. The previously announced transaction is expected to be completed in the first quarter of 2014, subject to procedural matters and arrangements with third parties. Franchise Services, which has its Canadian head office in Calgary, acquired Advantage from Hertz Global Holdings Inc in 2012.
9 January 2014•4 mins read
