The crisis-stricken, global car rental company Hertz is now seeking help from two investors to save itself from bankruptcy.

Hertz will receive approximately SEK 3.5 billion from Knighthead Capital Management and Certares Opportunities if the deal closes. The investors are buying the shares in Hertz to save the American car fleet and cover its debts.

Hertz filed for bankruptcy protection in the US in May last year, when the market plunged during the pandemic.

Hertz is also present in Sweden, but its operations in the Nordic region are not directly affected by what happens in North America, as they are run as a franchise by a subsidiary of Volvo Cars.

Source: TT