FTC Approves Sale of Two West Coast Car Rental Agencies
The Federal Trade Commission has approved an application submitted by Franchise Services of North America, Inc. (FSNA) to sell two former Advantage Rent A Car airport rental car concessions, neither of which is currently operating. FSNA will sell assets located in Portland, Oregon to Avis Budget Group, and assets located in San Jose, California to Sixt Rent-A-Car.
FSNA acquired the locations from Hertz Global Holdings, Inc. under a 2012 FTC settlement that required Hertz to sell its Advantage rental car business, also doing business as Simply Wheelz LLC, and other assets to a Commission-approved buyer to resolve charges that its proposed $2.3 billion acquisition of Dollar Thrifty Automotive Group, Inc. would have been anti-competitive. Under the terms of the settlement, if FSNA sells any of the divested assets within three years, Commission approval is required.