Veirano instructed on Hertz Brazil sale
Veirano Advogados advised Hertz on the sale of its Brazil car rental and leasing operations to Localiza.
Hertz is a car rental multinational with operations spanning the globe. Localiza, headquartered in Brazil, is the largest car rental network in South America, with 579 branches in seven countries.
As part of the deal, which was initially announced in December 2016, both companies entered into referral and co-branding agreements. The alliance will include the exchange of know-how in areas of technology, customer service and operational excellence.
The deal, approved with no restrictions by Brazil’s antitrust authority, CADE, was valued at R$360 million (about $115 million.)
Partners Paula Surerus, Valdir Rocha and Leonardo Duarte led the Veirano team advising Hertz.
Hertz instructed Linklaters as international counsel while Simpson Thacher & Barlett and Pinheiro Neto acted for Localiza.