Ford Motor Company today earlier this week that The Hertz Corporation, a wholly owned subsidiary, filed a registration statement with the Securities and Exchange Commission for an initial public offering (IPO).
The filing is consistent with Ford’s announcement on April 20 that it was evaluating long-term strategic objectives for Hertz. Following an IPO by Hertz, Ford intends to divest its remaining ownership interest in Hertz.
Hertz operates the largest general use car rental business in the world and one of the largest industrial, construction and material handling equipment rental businesses in North America, based on revenues.
