Cairo – Mubasher: Egypt-based Ezz Elarab Automotive Group has announced acquiring AVIS Egypt.

This acquisition aims to launch a large entity which is set to provide transportation and car renting solutions in Egypt via merging “BUDGET” trademark with “AVIS” to be “AVIS BUDGET EGYPT”, according to the group’s statement on Sunday.

On a related note, Ezz Elarab Automotive Group further noted that it aims through this deal to offer 250 vehicles in 15 sites currently, chairman, Hisham Ezz Elarab stated.

The chairman indicated that his group aims to invest around EGP 500 million by the end of 2019.

This collaboration aims to launch a fleet that includes 1,000 cars during 2019, AVIS BUDGET’s chairman concluded.