French Truck Rental Firm Fraikin Exploring €3 Billion Sale

French commercial vehicle rental company Fraikin Group is exploring a sale that could value it at as much as €3 billion ($3.5 billion), people with knowledge of the matter said.

The owners — a consortium of investment firms and creditors — are working with Bank of America Corp. and Lazard Inc. on the potential divestment, said the people, who asked not to be identified as the information is private. Fraikin has started sounding out interest, the people said.