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Hertz Global Holdings has entered into a long-term strategic partnership agreement with Localiza, one of South America’s largest rental car companies.

As part of the agreement, Hertz Global Holdings finalised the sale of its Brazil rental and leasing operations to Localiza for BRL360 million (USD114.58 million).

Moreover, the companies have launched referral and brand cooperation contracts, and will exchange information in the areas of technology, customer service and operational excellence.

Commenting on the collaboration, Eugenio Mattar, CEO, Localiza, said, “Customers from both companies will have innovative services, attendance and solutions to facilitate their mobility and improve their experience of car rental and vehicle leasing.”