NEW YORK May 6 Hertz Global Holdings Inc
said on Monday that private equity firms Clayton,
Dubilier & Rice and Carlyle Group, as well as Bank of
America Merrill Lynch, have sold off their remaining
shares in the car rental agency for $1.24 billion.
CD&R, Carlyle and Bank of America Merrill Lynch sold 49.8
million shares for $24.96 each, Hertz said in a press release.
Before the sales, CD&R and Carlyle were the second and third
largest shareholders in Hertz, respectively, according to
Thomson Reuters data.
Bank of America Merrill Lynch, CD&R and Carlyle Group bought
Hertz from Ford Motor Co in December 2005 for $5.6
billion. Including debt, the deal was worth $15 billion. Hertz
did an initial public offering the following year.