Advertisement
YOU ARE HERE: LAT HomeCollectionsVestar Equity Partners
IN THE NEWS

Vestar Equity Partners

FEATURED ARTICLES
BUSINESS
September 23, 1994 | From Times Wire Services
General Motors Corp. said Thursday it has reached a preliminary agreement to sell its National Car Rental System Inc. to an investment group led by Vestar Equity Partners for an undisclosed sum. In June, National Car Rental President Lawrence Ramaekers told Reuters that the rental firm was expected to fetch more than $1 billion. GM, the nation's largest auto maker, said it signed a letter of intent for the sale of National, which has more than 5,000 locations in 132 countries.
ARTICLES BY DATE
BUSINESS
September 23, 1994 | From Times Wire Services
General Motors Corp. said Thursday it has reached a preliminary agreement to sell its National Car Rental System Inc. to an investment group led by Vestar Equity Partners for an undisclosed sum. In June, National Car Rental President Lawrence Ramaekers told Reuters that the rental firm was expected to fetch more than $1 billion. GM, the nation's largest auto maker, said it signed a letter of intent for the sale of National, which has more than 5,000 locations in 132 countries.
Advertisement
BUSINESS
January 13, 1995 | From Times Staff and Wire Reports
GM Sale of National Car Rental Falls Through: The auto maker said it has ended talks to sell its National Car Rental System Inc. unit to a group led by Vestar Equity Partners and is assessing various alternatives. General Motors Corp. spokeswoman Toni Simonetti said one option being considered is simply keeping National, which earned a profit last year. Simonetti declined to comment on whether there have been discussions with other potential buyers.
BUSINESS
April 5, 1995 | From Reuters
General Motors Corp. said Tuesday that it sealed a definitive pact to sell National Car Rental System Inc. to an investment group led by a rental car industry veteran. Financial terms were not disclosed, but the unit was long on the auction block and was expected to fetch more than $1 billion. William Lobeck of Tulsa, Okla., is leading NCR Acquisition Corp. in the purchase. Lobeck has been involved in the industry for more than 20 years.
Los Angeles Times Articles
|