Hertz Global Holdings said Monday that its three largest shareholders — Bank of America Merrill Lynch; Clayton, Dubilier & Rice LLC, and the Carlyle Group, collective holders of more than 200 million shares — are selling 50 million shares to Goldman Sachs & Co.
Hertz also said it expects an increase of 11 percent to 12 percent in equipment rental revenue in the first quarter, more than it had originally predicted. However, it doesn’t foresee rental rate hikes before the second quarter.
The company added that its first-quarter revenue would increase but be hurt by January and February storms. It added that its adjusted quarterly net loss will lessen because of the high prices it is getting for used cars in Japan.
Based in Park Ridge, N.J., Hertz Equipment Rental Corp. is No. 4 on the RER 100.