Avis Europe: Avis tries again
Article Abstract:
Avis Group plans a flotation in Mar 1997 and investors will be given benefits when using the company's services if they buy the shares. The company aims to raise 250 million pounds sterling and this gives the value of Avis at some 700 million pounds. Avis was acquired for 900 million pounds when it left the stock market, and has since sold its leasing business which helps explain the drop in value. Avis will invest some 80 million pounds to 100 million pounds in buying out GM, a minority shareholder.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Capital's spending spree
Article Abstract:
GE Capital plans an additional 12 acquisitions in the United Kingdom after the acquisition of three firms since Jun 1997. GE Capital has acquired DBS Nationwide, BRS Car Lease and TLS, and plans to acquire Central Transport Rental (CTR). The company would achieve dominance in the European market for trailer rentals with the acquisition of CTR. CTR was previously known as Tiphook, and stockholders are recommended to accept the offer from GE of 0.16 pounds sterling per share.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Turbo charged
Article Abstract:
Avis Europe will be valued at some 730 million pounds sterling for its share issue in 1997 which is thought to be heavily oversubscribed. The company ranks first among European car hirers and aims to expand in Asia. Avis Europe was affected by the European recession in 1994 and a drop in car values could affect earnings. The company has agreements covering most ofits vehicles and involving a guaranteed price. Growth is earnings and dividends is forecast at 15%.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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