Fleet News

Avis considers Stock Market return

AVIS Europe is considering a return to the London Stock Exchange, seven years after it left following a takeover. David Maloney, group finance director of Avis Europe, said this was just one of a number of options under consideration which would change the ownership of the company.

Avis Europe is currently owned by a consortium which includes D'Ieteren, the Belgian car importer and distributor, General Motors, and Avis Inc. The company may invite another investor, merge with Avis Inc, or continue with the same structure, as it considers all the options available.

Meanwhile, Avis Europe has announced an increase in operating profits of £83.7 million for the year to February 29 1996, up 41.9% on the previous 12 months. The car rental giant operates from over 2,700 locations in 88 countries through Europe, Africa and the Middle East, and does not isolate the performances of individual countries.

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