Deals
Hertz to Consider Selling Donlen Leasing Business to Pay Debt
- Car-rental company would like at least $1 billion for asset
- No decisions have been made and plans could still change
Photographer: David Paul Morris/Bloomberg
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Hertz Global Holdings Inc. has received interest from several potential buyers for its Donlen fleet business and is considering a sale if it can get at least $1 billion, according to people familiar with the matter.
Hertz, which filed for Chapter 11 bankruptcy protection in May, sees Donlen as nonessential to its core rental business and is willing to consider selling it to satisfy some debt obligations and enable the company to more easily raise debtor-in-possession financing, one of the people said, asking not to be named because the talks are private.