26.06.2014 22:55:14

Expedia To Acquire Auto Escape Group - Quick Facts

(RTTNews) - Expedia, Inc. (EXPE) said it has entered into a definitive agreement to acquire Auto Escape Group from private equity fund Montefiore Investment and certain members of the AutoEscape Group's management team.

The company said that upon closing, Auto Escape Group will become a part of the CarRentals.com brand and report into Henrik Kjellberg, President of the Hotwire Group.

Expedia said it expects the deal to close during the third quarter of 2014 pending receipt of regulatory approval. Additional terms were not disclosed.

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