Brazilian Rental Car Company Ouro Verde Renamed Unidas

Brazilian rental car company Ouro Verde, owned by Canada's Brookfield Asset Management Inc, will be renamed Unidas after the acquisition of the brand from Localiza Rent a Car, according to a Reuters report.

Localiza recently revealed the conclusion of the $683 million deal announced two years ago, which covered 49,000 vehicles and almost 200 stores.

The company, focused before the acquisition on trucks, large vehicles and fleet renting, will use Unidas brand in its previous business and in the retail rent-a-car operation, said new Unidas CEO Claudio Zattar, in a video interview with Reuters.

With the combination Ouro Verde, Unidas now has around 90,000 assets, including light vehicles, trucks, machinery and heavy equipment, and is expected to become the third largest rental car company in the country.

Unidas will operate 182 rental stores and 20 car resale stores, said Zattar. Employee head count rose to 3,600 and three of Unidas' former directors will lead the rental car operation, according to Zattar.