RSS   Newsletter   Contact   Advertise with us
Post Online Media
Europe   Piraeus had agreed to sell Avis car-rental

Piraeus Bank says Avis car-rental will be sold to Avis Budget Group for 80.6m euros

Piraeus BankPiraeus Bank said that its wholly-owned subsidiary Olympic Commercial and Tourist Enterprises, the holder of the domestic Avis car-rental franchise, will be sold to Avis Budget Group and not to the consortium comprised of Olympia Group and Virtus International Partners.

Article continues below

READ MORE Avis Budget Group to hire 1,500 employees on June 22

Piraeus said that Avis Budget Group has indicated its intention to designate as the ultimate purchaser of Olympic a special purpose company, having as sole shareholders Avis Europe Holdings and an Otokoc Group company with which the Avis Budget Group maintains a longstanding cooperation in many countries.

Piraeus had agreed to sell Avis car-rental for a cash consideration of 80.6 million euros.

What to read next


We use cookies to ensure that we give you the best experience on our website. Please allow cookies for fully-functioning website.

Allow Cookies Privacy Policy