Ford completes Hertz sale, sees pretax gain

Newswire

DETROIT, Dec 21 (Reuters) - Ford Motor Co. said on Wednesday it has completed the sale of car rental company Hertz Corp. to a private equity group, resulting in a pretax gain in the range of $1.1 billion to $1.3 billion in the fourth quarter. The investor group, composed of Clayton Dubilier & Rice, The Carlyle Group and Merrill Lynch Global Private Equity, purchased the equity of Hertz in a transaction valued at approximately $15 billion including debt. Under the terms of the ...

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