Gallery: Avis to Buy Car Sharing Service Zipcar In Deal Worth Nearly $5...


Avis Budget Group Inc. has announced its intent to buy Zipcar Inc, the world’s leading car sharing network, for around $500 million, expanding on their existing car rental services. Avis will pay $12.25 per share, which is a 49 percent premium to Zipcar’s Friday closing price. If Zipcar shareholders approve it, the sale is expected to go through in the spring.

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