Budget Group, Inc. is to sell its corporate operations in Manchester and Birmingham, England to Jaeban U.K., Ltd., a current Budget franchisee.

The sale of the operations, which collectively operate over 1,000 vehicles, represents a significant step in the company's strategy to reduce its exposure in Europe by franchising corporate operations there.

Budget Group owns Budget Rent a Car Corporation and Ryder TRS. Budget is the world's third largest car and truck rental system and Ryder TRS is the nation's second largest consumer truck rental company.