USA: Budget Group Announces Sale of Non-Core Assets
Budget Group, Inc. (NYSE: BD) today announced that it has closed on the sale of its Licensee Leasing Program and has reached agreement to sell two of its new car dealerships. In total, these three transactions will generate equity proceeds of approximately $70 million. The Licensee Leasing Program, which offers financing to Budget licensees, was purchased by 1st Source Bank, a South Bend, Indiana, based company owned by 1st Source Corporation (Nasdaq: SRCE - news). 1st Source Corporation is the largest locally owned financial institution headquartered in the Northern Indiana-Southwestern Michigan area.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-auto gives its paid members access to the very best automotive market coverage.
And now there’s just-auto plus, our premium membership that gives you exclusive component forecast data, company profiles and extended news coverage - just for premium members.
Today I can offer you 30 days access for $1 - and that includes just-auto plus.
Dave Leggett, editor of just-auto
* plus VAT if applicable