Simpson Thacher drives sale of Hertz subsidiary in Brazil
Simpson Thacher advised Localiza, the Brazilian car rental company, on its acquisition of Car Rental Systems do Brazil Locação de Veículos, the local subsidiary of Hertz.
Localiza is the largest car rental operator in Brazil and South America. It runs a network of 584 car rental branches in Brazil, Argentina, Bolivia, Chile, Colombia, Ecuador, Paraguay, Peru and Uruguay.
The deal is estimated at $99 millions and will include a brand cooperation agreement between Localiza and Hertz and a referral agreement to implement a long-term strategic alliance.
Partner Todd Crider led the team advising Localiza.