Hertz set to ride out of bankruptcy with $4.2 bn from investment firms

Topics Bankruptcy | Companies

Two investment firms will buy a majority stake in Hertz Global Holdings Inc for $4.2 billion under a restructuring plan expected to help it out of bankruptcy by early- to mid-summer, the car rental company said in a filing on Tuesday.   Under the proposed investment, Knighthead Capital Management LLC and Certares Opportunities LLC will buy up to 100% of Hertz's shares, with the funds expected to finance its US vehicle fleet and slash corporate debt.

"We've been...repositioning our business as we prepare for increased.....

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