Avis (CAR) says it plans to buy Apex Car Rentals, New Zealand’s largest independent car rental...

|About: Avis Budget Group, Inc. (CAR)|By:, SA News Editor

Avis (CAR) says it plans to buy Apex Car Rentals, New Zealand’s largest independent car rental firm, for $29M. Apex operates a fleet of ~4,000 rental cars, 1% of the size of Hertz’s (HTZ) $2.3B purchase of Dollar Thrifty (DTG) and 3% of the size of DTG's fleet. But the deal boosts CAR's international presence, and should dispel any last thoughts that it's still considering another play for DTG.