Hertz Global Holdings (NYSE: HTZ), with a bankruptcy filing last year that threatened to dump a surplus of cars and trucks onto the used vehicle market, has a plan to survive and come out of Chapter 11.
In an announcement released early Tuesday, the rental car giant said two private equity companies, Knighthead Capital Management and Certares Opportunities LLD, would be taking a significant stake in the company. Knighthead is considered a “distressed debt” investor, while Certares is a private...
