Kirkland & Ellis and Latham & Watkins have taken lead roles on vehicle rental chain Avis Budget Group's $500m (£307m) acquisition of Zipcar, the world's biggest car-sharing firm. The deal will see Avis acquire Zipcar for $12.25 (£7.50) per share in cash. the company, which listed on NASDAQ in April 2011, acquired UK rival Streetcar for $50m (£32m) in 2010.
January 03, 2013 at 05:44 AM
1 minute read
The original version of this story was published on Legalweek
Kirkland & Ellis and Latham & Watkins have taken lead roles on vehicle rental chain Avis Budget Group’s $500m (£307m) acquisition of Zipcar, the world’s biggest car-sharing firm.
The deal will see Avis acquire Zipcar for $12.25 (£7.50) per share in cash. The company, which has a presence in more than fifty cities across the US, the UK, Spain and Canada, bills members by the hour or day for using its vehicles as an alternative to car ownership.
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