Localiza offers to sell brand, cars to get the Unidas deal approved - report will not be released soon

Localiza offers to sell brand, cars to get the Unidas deal approved - report will not be released so ...

Localiza offer to sell the name label of the company's Unidas acquisition target to the Brazilian antitrust watchdog CADE, a News article reported Friday.

Localiza had offered to buy 30,000 cars a year from its fleet before Jan. 6 citing sources. The newspaper said that Localiza was going to give the council a final opinion on the deal by Dec. 6. The newspaper said, adding to sources, that Localiza had also offered to sell 30,000 cars from its fleet for the approval.

Localiza and Unidas - or Companhia de Locacao les Americas - are the first and second largest car rental company in Brazil. Unlike rivals like Movida Participacoes, the deal was criticized by rivals.

Localiza and Cade didn't respond immediately to Reuters' commenting requests.

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