A PYMNTS Company

US: Auction deems winner for bankrupt Advantage Rent A Car

By  |  December 11, 2013

A buyer has been named to acquire Advantage Rent A Car, the rental car firm that filed for Chapter 11 reorganization last month after being divested from its previous owner Hertz.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Catalyst Capital Group will acquire Advantage after agreed to finance as much as $46 million for the company’s debts. Advantage had intended for Catalyst to be its purchaser when it filed for bankruptcy, but in a bidding war Sixt SE challenged Catalyst.

    Advantage is largely seen as an example of what can go wrong when Federal Trade Commission regulatory efforts go wrong. The FTC had ordered the divestiture of Advantage as a condition for Hertz to acquire Dollar Thrifty, so as to ensure adequate competition against Hertz.

    Full Content: Businessweek

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.