Hertz unit seeks buyer in France and Spain

ESTERO — Car rental giant Hertz is negotiating to sell its equipment-rental businesses in France and Spain to Loxam Group, Europe's biggest equipment-rental company.

Hertz says it has entered into exclusive negotiations with Loxam to sell 60 equipment-rental locations in France and Spain for its subsidiary, Hertz Equipment Rental Corp. Terms of the potential deal were not disclosed.

Loxam has more than 4,500 employees and 623 locations across 14 countries in Europe. The potential acquisition would increase Loxam's market share in the Paris area and then north and west of France, as well as reinforce its Spanish network.