Financially-troubled Hertz has announced plans to sell its Donlen fleet leasing and management subsidiary. With adjustments for fleet equity, working capital and assumed debt, Hertz Global expects the deal to bring a purchase price of at least $875 million.
In the news release, Tom Callahan, Donlen’s president, said the sale will position the longtime fleet management and leasing business for “continued long-term success.”
“Our fleet customers remain our top priority and we look forward to continuing to be a trusted partner providing high levels of customer satisfaction, impactful technology and fleet solutions,” he said.
Donlen, based in Illinois, has been named one of the Best and Brightest Companies to Work for in Chicago and in the nation for six years in a row.
Read the article at USA Today.
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