Avis Grants CFAO New License to Offer Leasing Services in Western Africa
July 20 2016 - 10:00AM
Avis Car Rental today announced that it has signed a new multi-year
license agreement with CFAO, a specialized distributor and
preferred partner of major international brands. CFAO operates the
Avis Car Rental brand in western Africa and now, as part of this
agreement, will also offer vehicle leasing to customers under the
Avis brand.
“We’re delighted to extend our relationship with CFAO,” said
David B. Wyshner, president and chief financial officer, Avis
Budget Group. “This is an opportunity to leverage CFAO’s extensive
knowledge of the car rental and leasing markets to grow and develop
the Avis brand across western Africa.”
“CFAO has a 20-year history of partnership with Avis, and proven
experience successfully operating the Avis Car Rental brand in
western Africa,” said Stéphane Henry, chief executive officer,
Rental Operations, a division of CFAO Automotive Equipment and
Services. “We are delighted to operate leasing under the Avis brand
going forward.”
Under the license agreement, CFAO will offer leasing services in
Benin, Burkina Faso, Cameroon, the Central African Republic, Chad,
Congo-Brazzaville, Equatorial Guinea, Gabon, Gambia, Ivory Coast,
Mali, Mauritania, Niger, Sao Tome and Senegal.
About AvisAvis Car Rental operates one of the
world’s best-known car rental brands with approximately 5,500
locations in more than 165 countries. Avis has a long history
of innovation in the car rental industry and is one of the world’s
top brands for customer loyalty. Avis is owned by Avis Budget
Group, Inc. (NASDAQ:CAR), which operates and licenses the brand
throughout the world. For more information, visit www.avis.com.
About CFAOCFAO is a front-ranking specialized
distributor and preferred partner of major international brands,
serving the high-potential equipment & services, healthcare and
consumer goods markets in Africa and French overseas territories.
CFAO is active in 39 countries, including 34 African countries and
seven French overseas territories. It employed 12,370 people at
end-2015.
In 2015, CFAO generated consolidated revenue of €3,435.7 million
and recorded recurring operating income of €269.2 million. CFAO is
a 97.74%-owned subsidiary of TTC (Japan). CFAO is listed on NYSE
Euronext Paris. Find CFAO on Bloomberg at CFAO:FP and on Reuters at
CFAO.PA. To find out more, go to www.cfaogroup.com.
Contact:
Alice Pereira
973.496.3916
PR@avisbudget.com
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