Budget Group Inc. announced that it has signed a letter of intent to sell its corporate operations in Manchester and Birmingham, England, to Jaeban U.K., Ltd., a current Budget franchisee. The sale of the operations, which collectively operate more than 1,000 vehicles, represents a sig-nificant step in the company’s strategy to reduce its exposure in Europe by franchising corporate op-erations there. The company anticipates the closing of the agreement within the first quarter. Budget Group Inc. owns Budget Rent a Car Corp. and Ryder TRS.
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