Avis Budget Group’s pending acquisition of Zipcar receives U.S. antitrust clearance

Avis Budget Group’s pending acquisition of Zipcar receives U.S. antitrust clearance

Avis Budget Group, Inc and Zipcar, Inc, the world’s leading car sharing network, today announced that the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired on February 11, 2013 in connection with Avis Budget’s previously announced agreement to acquire Zipcar. The closing of the transaction remains subject to other customary conditions, including approval by Zipcar shareholders and review by UK competition authorities.

The companies currently expect Avis Budget Group’s acquisition of Zipcar to be completed in March or April 2013.