New York – September 12, 2005 – LAWFUEL – The Law News Network – Debevoise & Plimpton LLP advised Clayton, Dubilier & Rice, Inc., (CD&R), The Carlyle Group and Merrill Lynch Global Private Equity (MLGPE), in a definitive agreement with Ford Motor Company to acquire The Hertz Corporation (Hertz), the world’s largest vehicle rental organization, in a transaction valued at $15 billion. George W. Tamke, a CD&R Operating Partner, will serve as Chairman of the Board of Directors. The transaction is subject to normal regulatory approvals and is expected to close by the end of the year.
Clayton, Dubilier & Rice, Inc. is a leading private equity investment firm that has earned consistent, superior investment returns using an integrated operational and financial approach to building and growing portfolio businesses. The Carlyle Group is a global private equity firm with $31 billion under management. MLGPE is the private equity arm of Merrill Lynch & Co., Inc. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington, London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The Debevoise team is led by partners Franci J. Blassberg and David A. Brittenham, and includes partners William B. Beekman, Gary M. Friedman, Gregory V. Gooding, David P. Mason, Kevin M. Schmidt and Steven J. Slutzky, and associates Alexandra Alperovich, Lindsay K. Blanco, Vivian M. Blanco, Laura Iannucci, Jonathan E. Levitsky, Adrian Lingaya, Margaret M. O’Neill and Mark S.A. Van Dam.