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Hertz to Consider Selling Donlen Leasing to Pay Debt, Bloomberg

September 02, 2020, 07:22 AM
Filed Under: Industry News

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, Bloomberg reported.

Hertz filed for Chapter 11 bankruptcy protection in May. The company views Donlen as nonessential to its core rental business and would 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.

Donlen’s suitors are chiefly private equity funds, the people told Bloomberg. Hertz hasn’t made a final decision on pursing a sale and its plans could still change.

See the full Bloomberg article here.

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