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Cendant May Acquire Some Assets of Other Car Rental Companies

December 12, 2001

Cendant, which owns Avis Rent A Car, could acquire some of the assets of other rental car rental companies, said Henry Silverman, Cendant chairman, president and CEO, to Wall Street investors at a Dec. 10, 2001, conference in New York, according to a report by Reuters. ANC Rental Corp., which owns the Alamo Rent-A-Car and National Car Rental chains, filed for Chapter 11 bankruptcy protection on Nov. 13, 2001.Silverman also said that Cendant is looking to sell some of its non-core assets. According to a report by UK’s Sunday Times, Cendant may put National Car Parks (NCP) in the United Kingdom on the selling block for more than $1.4 billion, NCP is the UK’s biggest parking lot operator with 500 sites.
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