Avis Locafinance plans to acquire Tenor Group's vehicle rental subsidiary

As part of its growth and consolidation strategy, Avis Locafinance Group confirms its intention to acquire PSD T-RENT, a subsidiary of the Ténor Group, announced in a joint press release.

PSD, owner of the T-Rent brand, is a subsidiary of Ténor Group, specializing in vehicle rentals. It operates mainly in the long-term rental segment and currently manages a fleet of nearly 1,400 vehicles.

The Moroccan company is in the sights of Avis Locafinance, a leading player in short and long-term rental in Morocco.

"In a highly competitive and changing environment, Avis Locafinance intends to consolidate its position as a key player in car rental and strengthen its footprint in the service of new mobility, particularly long-term rental, based on the use of new technologies and exceptional customer service," the statement said.

This takeover will enable Avis Locafinance, which already manages a fleet of more than 3,000 vehicles, to increase its scope by integrating the 1,400 vehicles managed by PSD T-RENT and to reach its goal of 5,000 vehicles under long-term leasing by 2025.

This development is subject to the authorization of the Competition Council, which has undertaken a study of the case and should render its decision in the coming weeks", announced a joint press release from the two companies.