Carl Icahn exits Hertz with ‘significant’ loss

Via Reuters Finance

FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on Fox Business Network’s Neil Cavuto show in New York, U.S. on February 11, 2014. REUTERS/Brendan McDermid/File Photo

(Reuters) – Billionaire investor Carl Icahn said on Wednesday he had sold his entire equity position in Hertz Global Holdings Inc (HTZ.N) at a “significant loss”, days after the car rental pioneer filed for bankruptcy protection.

Icahn, who was the largest shareholder in Hertz, sold all the 55.34 million shares on Tuesday at 72 cents per share, according to a regulatory filing bit.ly/3enMoJw.

Hertz filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much needed relief.

Icahn had been an investor in Hertz, which operates Hertz, Dollar and Thrifty car-rentals, since 2014.

Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila


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