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Jun 15, 05, 9:54 am
DEARBORN, Mich., June 13 /PRNewswire-FirstCall/ -- Ford Motor Company (NYSE: F) today announced that The Hertz Corporation, a wholly owned subsidiary, filed a registration statement with the Securities and Exchange Commission for an initial public offering (IPO) of a portion of the economic interest in Hertz.
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.
J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and Goldman, Sachs & Co. are serving as joint book-running managers for the IPO. The IPO will be made by means of a prospectus, copies of which may be obtained, when available, from J.P. Morgan Securities Inc., Prospectus Department, One Chase Manhattan Plaza, New York, NY 10081 (212-552-5164), Citigroup Global Markets Inc., Prospectus Department, Brooklyn Army Terminal, 7th Floor, 140 58th Street, Brooklyn, NY 11220 (718-765-6732), or Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, NY 10004 (212-902-1171).
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.
J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and Goldman, Sachs & Co. are serving as joint book-running managers for the IPO. The IPO will be made by means of a prospectus, copies of which may be obtained, when available, from J.P. Morgan Securities Inc., Prospectus Department, One Chase Manhattan Plaza, New York, NY 10081 (212-552-5164), Citigroup Global Markets Inc., Prospectus Department, Brooklyn Army Terminal, 7th Floor, 140 58th Street, Brooklyn, NY 11220 (718-765-6732), or Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, NY 10004 (212-902-1171).