Hertz has begun a strategic partnership
agreement with South American car rental company Localiza. As part of the deal
Hertz sold its Brazilian car rental and leasing operations to Localiza for
R$360 million (US$115 million). Localiza customers will be referred to Hertz
reservation channels for rentals outside South America, and Hertz customers
traveling to Brazil will be referred to Localiza. Hertz also will display the
Localiza brand at airport locations that attract heavy traffic from Brazil, and
Localiza will brand itself as Localiza Hertz in most locations in Brazil.