Avis Budget Group paid about $60 million in cash for 45 percent of chauffeured transportation firm Carey International

, with a conditional option to grow its ownership stake to roughly 80 percent. Carey, which will maintain its existing leadership, generated about $250 million in revenue last year, the companies said. "With this investment, Avis Budget Group expects to be able to offer corporate customers and travel partners the most complete portfolio of local ground transportation products and services available anywhere," according to Avis Budget Group chairman and CEO Ronald Nelson.