LONDON, Jan 22 (Reuters) - Car rental firm Avis Europe Plc said on Wednesday it would buy assets from rival Budget International, including rights to use the Budget trademark and name in Europe, the Middle East and Africa.
Avis Europe said in a statement it would pay $20 million in cash for the assets, which also include existing Budget licence agreements and royalties in those regions.
It said it still had to finalise an amount to pay for assets in France.
Budget has been reorganising under Chapter 11 bankruptcy protection in the United States.