Budget Rent A Car to Be Sold

Associated Press

Budget Rent A Car Corp. will be acquired for $333 million by an investment group led by Gibbons, Green van Amerongen Ltd. and Budget's management in a deal financed primarily by Ford Motor Co., officials said today.

Budget, the nation's third-largest rental car company and the only one still publicly held, said Beech Holdings Corp. would pay $30 a share for the Chicago-based company's 11.1 million outstanding shares. This will be the second time in two years that Budget has been taken private by Gibbons, Green and Budget's management.

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