Zacks Blog: Ryder Issues Sustainability Report ( R , AMMX ) 09/27/12 Zacks Blog: Avis Enhances Renta

Vehicle vacation rentals umbria italy rental service provider, Avis Budget vacation rentals umbria italy Group Inc. ( CAR - Analyst Report ) is on track to strategically expand its global connections, looking for lucrative buy-out opportunities in markets where it enjoys substantial exposure. The company has agreed to acquire New Zealand s leading car rental company, Apex Car Rentals, facilitating the enlargement of its already strong footprint in New Zealand and Australia.
Per the deal, Avis Budget has agreed vacation rentals umbria italy to pay nearly US$29 million in cash, in addition to Apex s rental fleet book value and potential earn-out payments based on the latter s future financial performance. The company expects to close the acquisition in October 2012, pending the satisfaction of customary closing conditions.
Based in Christchurch, New Zealand, Apex is a large independent car rental company, offering its colossal fleet services across New Zealand and Australia. The company commands a fleet size of more than 4,000 rental cars, plying across all the locations in New Zealand and Australia, including the major airports. The company has made a mark in the market since its inception in 1992 by traditionally serving value-oriented vacation rentals umbria italy leisure travelers.
With the acquisition of this large local car operator along with its portfolio of brands, Avis expects to capitalize on various opportunities to satisfy the car rental needs of all visitors and residents in New Zealand vacation rentals umbria italy and Australia.
Avis follows a core global strategy vacation rentals umbria italy of partnering with leading travel brands to expand its customer reach while creating additional vacation rentals umbria italy demand. The company recently made its first appearance in Taiwan, in an effort to expand its Asian operations.
Avis Budget s decision to enter Taiwan is backed by growing vacation rentals umbria italy car rental demand on the island as well as its speeding economic growth. Moreover, in order to expand its geographical presence, the company is proactively looking for strategic acquisitions vacation rentals umbria italy and alliances to bolster its growth opportunities.
vacation rentals umbria italy The company, which competes with established industry players, such as Hertz Global Holdings Inc. ( HTZ - Snapshot Report ), Enterprise vacation rentals umbria italy Rent-A-Car, Dollar Thrifty Automotive Group Inc. ( DTG - Snapshot Report ) and Ryder System Inc. ( R - Analyst Report vacation rentals umbria italy ), maintains a Zacks #3 Rank, implying a short-term Hold rating. However, we are maintaining a long-term Outperform recommendation on the stock.
Zacks Blog: Ryder Issues Sustainability Report ( R , AMMX ) 09/27/12 Zacks Blog: Avis Enhances Rental Services ( CAR , DTG , HTZ ) 09/26/12 Zacks Blog: Hertz Proceeds to Buy DTG ( CAR , DTG , HTZ ) 09/11/12
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