Expedia snaps up European car rental site

|By:, SA News Editor

European online car rental reservation site Auto Escape Group is currently owned by P-E fund Montefiore Investment and certain members of the company management team. Upon closing - expected in Q3 - Auto Escape will be folded into Expedia's (EXPE) CarRentals.com brand. Terms of the deal weren't disclosed.

Hotwire Group President Henrik Kjellberg: "We are excited to expand our CarRentals.com brand internationally so that we can provide our customers more choices across the globe and help our supply partners expand their marketing reach."