Hertz Global Holdings, Inc. (OTCPK: HTZGQ) announced that it has entered into an agreement to sell its wholly-owned subsidiary, Donlen Corporation, a fleet management leader, to Athene Holding Ltd. (NYSE: ATH), a financial services company, for an anticipated cash payment of $825 million subject to adjustments for fleet equity, working capital and assumed debt. Hertz anticipates that these adjustments will result in a purchase price at closing of at least $875 million.
Hertz President and CEO Paul Stone said, “The agreement to sell our Donlen business is another significant accomplishment for Hertz during our financial restructuring, following the $1.65 billion
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