Franchise Services of North America Inc. (“FSNA”) closed the previously announced merger between FSNA's wholly-owned subsidiary and Adreca Holdings Corp. (“Adreca”), a wholly-owned indirect subsidiary of Macquarie Capital, as a result of which the Advantage Rent A Car became wholly owned by FSNA. Prior to the merger, FSNA continued to the State of Delaware from Canada pursuant to a plan of arrangement approved by the Court of Queen's Bench of Alberta on May 2, 2013. FSNA and Adreca acquired Advantage Rent A Car from The Hertz Corporation (“Hertz”) in connection with Hertz's US$2.6 Billion acquisition of Dollar Thrifty Automotive Group Inc.
FSNA was represented in Canada by Stikeman Elliott LLP with a team that included Ken Ottenbreit, Christopher Nixon, Gordon Cameron, Marc-André Wolfe, Benjamin Hudy and Gianfranco Matrangolo.
Macquarie Capital was represented in Canada by Blake, Cassels & Graydon LLP with a team that included Chris Hewat and Mark Adkins and Jamie Kariya (corporate/securities); and Chris Van Loan (tax) and Paul Belanger (regulatory).