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Stock photo of a man holding car keys.
Stock photo of a man holding car keys.
(Jupiterimages/Getty Images/Polka Dot RF)

Catalyst launches bid for ailing Advantage Rent A Car

Toronto-based private equity fund Catalyst Capital Group is looking at getting into the car rental business, putting up a stalking-horse bid for Advantage Rent A Car after the company filed for creditor protection in the U.S.

Advantage, North America’s fourth largest car rental company, was spun off by Hertz Global Holdings Ltd. at the behest of competition regulators. It received court protection from creditors on Tuesday amid a conflict with Hertz, which, in addition to being a major competitor, was also leasing cars and providing financing to Advantage.