27.06.2015

Loxam looks at Hertz France & Spain

French international rental group Loxam is holding exclusive negotiations to acquire Hertz Equipment Rental’s operations in France and Spain.

If negotiations are successful Loxam will purchase the entire share capital of both Hertz Equipement France and Hertz Alquiler de Maquinaria. The proposed transaction includes 60 locations in France and two in Spain.

Hertz Equipment is currently going through a separation process from the car rental business, and selling its French and Spanish businesses would, according to the company, help it to “focus on core and specialty market expansion. In addition, the move is in line with Hertz Equipment Rental’s strategy to maximise profitability and shareholder value as part of its planned separation from The Hertz Corporation”.

The acquisition would particularly increase Loxam’s market share in the Paris area and the North and West of France, while reinforce its Spanish network. Any deal would be subject to receipt of the requisite works council opinions, and regulatory approvals.