February 6, 2017 / 3:31 PM / 3 years ago

Brazil's Localiza pledges aggressive pricing as rivals IPO

SAO PAULO, Feb 6 (Reuters) - Localiza Rent a Car SA , Brazil’s biggest car rental company, plans to maintain aggressive pricing this year with the help of lower interest rates and efficiency gains, executives said on a Monday when asked about rivals’ share offerings.

Smaller peer Movida Participações SA is pressing ahead with an initial public offering (IPO) on Monday after cutting the price floor last week. Unidas SA also extended the deadline for bids on its IPO to Friday. (Reporting by Brad Haynes; Editing by Chizu Nomiyama)

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