Car rental giant seeks exit from bankruptcy

Lee County car rental giant Hertz has had a busy week leading up to early April.

First the Estero-based company, which filed for bankruptcy May 22 with $25.84 billion in assets and $24.35 billion in debts, competed the sale of its wholly-owned fleet management subsidiary, Donlen Corp., March 30. Athene, a publicly-traded financial services company with $200 billion in assets under management, acquired Donlen for $891 million in cash, according to a statement. "Hertz is very pleased with the successful outcome of the sale process for Donlen, which marks another significant accomplishment in our financial restructuring,” Hertz President and CEO Paul Stone says in a statement.