Hertz Selects Centerbridge to Lead Its Reorganization From Bankruptcy
Photo Credit: A Hertz vehicle in Sant Adria de Besos Spain on July 28, 2017. Hertz accepted the Centerbridge plan to lead its bankruptcy reorganization. Flickr.com / Vasconium
Skift Take
Suddenly Hertz, the beleaguered car-rental firm forced into bankruptcy, is being wooed like it's the last case of Budweiser on a deserted island. Investors see opportunity in an emerging new Hertz.
In the duel over which investment group would lead Hertz out of bankruptcy in June, Centerbridge Partners appears to have won.
However, the deal is subject to a bankruptcy court hearing April 16 in Delaware, and then creditor approval, so the possibility of further maneuvering isn't foreclosed.
Hertz announced Saturday that it s
