including a
planned divestiture of its Advantage Rent-a-Car
subsidiary, CEO Mark Frissora said Thursday during the company's quarterly
earnings call. Though Hertz in October
withdrew a bid to acquire Dollar Thrifty, the company has continued to seek Federal Trade Commission clearance
to initiate a buy. Hertz has "agreed on the material terms of a divestiture
of our Advantage business with a potential buyer and have provided those terms
to the FTC staff," according to Frissora, who did not disclose the
potential buyer. "We are optimistic this divestiture will satisfy the FTC
staff," Frissora added. Hertz now is working "on the next steps
toward obtaining a final consent order from the FTC," according to
Frissora.