The Federal Trade Commission Issues Final Consent Order On The Hertz/Dollar Thrifty Merger
PARK RIDGE, NJ--July 11, 2013: Hertz Global Holdings, Inc. ("Hertz" together with its subsidiaries, the "Company" or "we") today announced that the Federal Trade Commission has issued a final consent order regarding Hertz's acquisition of Dollar Thrifty Automotive Group. Hertz acquired Dollar Thrifty in November 2012 pursuant to an interim agreement and proposed consent order entered into between the company and the FTC at that time. Under the terms of that agreement, which now have been embodied in the final order with no substantive changes regarding Hertz's obligations, Hertz divested its former Advantage car rental business, select airport concessions and certain other assets to Franchise Services of North America, Inc.
"We are pleased that the FTC has officially concluded its review of the Dollar Thrifty transaction," said Mark P. Frissora, Hertz Chairman and Chief Executive Officer. "Throughout this process we have worked closely with the agency, and the result has been a transaction that we believe will benefit our customers and shareholders for years to come."