August 31, 2018 / 11:31 AM / a year ago

Brazil's Movida, Avis Budget ink non-binding cooperation deal

RIO DE JANEIRO (Reuters) - Brazilian car rental company Movida Participações sa (MOVI3.SA) said on Friday it had signed a non-binding letter for a partnership with U.S. Avis Budget car rental (CAR.O), including the acquisition of 4,400 cars and brand cooperation.

In a separate securities filing, Movida said its board had voted to extend the deadline until Sept. 17 from Sept. 2 previously for the exercise of preferential rights to participate in a planned capital raise.

Reporting by Tatiana Stenzel; Editing by Chizu Nomiyama

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