BUSINESS

Piraeus Bank sells its Avis, Budget rental car franchises

TAGS: Business

Piraeus Bank announced on Friday that it has agreed to sell Olympic Commercial and Tourist Enterprises to a consortium comprising Olympia Group and Virtus International Partners. Olympic Commercial holds the Greek car rental franchises Avis and Budget in Greece.

Piraeus, Greece’s biggest lender by assets, will receive 80.6 million euros from the sale. [Reuters]

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