Company or individual details
- Hertz Global Holdings Inc., Hertz Australia Pty Ltd and Dollar Thrifty Automotive Group Inc.004 407 087
On 29 July 2014, the ACCC accepted an undertaking (the Undertaking) from Hertz Global Holdings Inc. (Hertz), Hertz Australia Pty Ltd (Hertz Australia) and Dollar Thrifty Automotive Group Inc. (Thrifty) in relation to Hertz’s completed acquisition of Thrifty (the Completed Acquisition). The Undertaking imposes obligations to protect Thrifty Australia’s confidential information from Hertz and Hertz Australia.
The ACCC considered that in the absence of the Undertaking, the Completed Acquisition would have the effect or been likely to have the effect of substantially lessening competition in relation to the national market for on-airport passenger vehicle rentals and the national market for off-airport passenger vehicle rentals.
The objective of the Undertaking is to address the ACCC's competition concerns which would otherwise arise as a consequence of the Completed Acquisition by ensuring that Thrifty in Australia continues to compete at arm’s length with Hertz Australia and any Australian Hertz business by:
- ring-fencing the management of, and involvement in, the Thrifty Australia business by Thrifty and the Licensor (the licensor under a License Agreement between Thrifty and the operator of Thrifty Australia’s business) from Hertz Australia and any Australian Hertz Business;
- limiting the type and degree of specificity of financial and operational information required to be provided by the Thrifty Australia business to Thrifty and the Licensor;
- preventing Hertz Australia from accessing confidential information and Thrifty reservation systems relating to the Thrifty Australia business; and
- the Licensor relinquishing certain rights it would otherwise have had under the License Agreement in respect of the Thrifty Australia business.
Termination of Undertaking
The term of the Undertaking was linked to the duration of the License Agreement between Thrifty and the operator of Thrifty Australia’s business. The License Agreement expired in November 2021, at which time the Undertaking terminated, in accordance with clause 4.1 of the Undertaking.