To satisfy the FTC and antitrust laws, Hertz Global said it will sell its Advantage Rent A Car busin

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selling southwest airlines tickets Bloomfield Hills-based Penske Automotive Group Inc. has signed an agreement with Hertz Corp. to become the sole franchise operator of Hertz rental locations in the Memphis, Tenn., market -- a relationship Hertz says may expand to other markets.
Under the agreement, Penske Automotive Group (NYSE:PAG) will purchase Hertz s 15 company-owned airport and off-airport selling southwest airlines tickets rental car locations in that market and will be licensed to operate them under the Hertz brand.
Hertz CEO Mark Frissora said in a statement that Penske is a premier brand that will enhance Hertz s local and neighborhood marketing selling southwest airlines tickets efforts. He says he expects the franchise relationship with Penske over time to grow into other markets selling southwest airlines tickets as well.
By partnering with Penske, Hertz will be able to accelerate our growth in key U.S. markets and further strengthen our franchising network, Frissora said in the statement. He is also the former CEO of supplier selling southwest airlines tickets Tenneco Inc.
Hertz s ability to harness technology and deploy the latest customer service innovations, coupled selling southwest airlines tickets with its established customer base, will bring increased value to Penske Automotive Group s local operations, Roger Penske said in a statement.
Penske Truck Leasing selling southwest airlines tickets , a joint venture owned by Penske Corp. , Penske Automotive Group and GE Capital selling southwest airlines tickets , operates Penske Truck Rental . The Hertz-Penske deal centers on car rentals, not trucks, the Hertz spokeswoman said.
Publicly held Penske ranks No. 2 on the Automotive News list of the top 125 dealership groups in the United States with retail sales of 154,829 new vehicles selling southwest airlines tickets in 2011. It operates 145 auto dealerships.
Last month, Hertz s parent, Hertz Global Holdings Inc. said it would acquire Dollar Thrifty Automotive Group Inc., pending clearance from the Federal selling southwest airlines tickets Trade Commission . That deal is expected to close in October.
To satisfy the FTC and antitrust laws, Hertz Global said it will sell its Advantage Rent A Car business to Franchise Services of North America and Macquarie Capital. Certain selling southwest airlines tickets other Dollar Thrifty assets and associated airport concessions also will be divested.
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