The troubled car rental company Hertz is soaring over 60 percent on Wall Street after agreeing to new owners who are investing $6 billion to save the company.
The global Car rental company Hertz, which filed for bankruptcy protection in May last year, looks set to be saved. Di has previously reported that several investors planned to invest money in the company, and on Wednesday it became clear that the new ownership group is investing $6 billion, equivalent to 50 billion kronor, to be able to continue operations.
The new owners, which include investment companies Knighthead Capital, Certares and Apollo, will both buy existing shares and print new shares for the money, which should be enough to pay off Hertz's debts, writes CNBC.
Hertz shares, which have basically been completely bombed out since the bankruptcy announcement a year ago, surged more than 60 percent in Wednesday trading on Wall Street after the announcement.
Hertz was one of the largest American companies forced to file for bankruptcy protection when the corona pandemic hit last year.
