Movida Participacoes S.A. ("Movida", the "Company" or the "Client") is one of the largest car rental companies in Brazil. Founded in 2006 and headquartered in Sao Paulo, the Company is part of the Simpar Group ("SIMPAR" or "the Group") that consolidates the activities of six companies in the logistics sector in Brazil. Movida operates under two major business units: (i) Rent a car ("RAC"); and (ii) Third Party Fleet Management ("GTF"). Movida is present in all Brazilian states, has 264 operational branches and operates a total fleet of +158,000 cars.
The proposed operation aims at supporting Movida in its continuous efforts to reduce Greenhouse Gas ("GHG") emissions in its operations. Transaction objectives include: (i) increase the number of electric cars in its RAC and GTF fleet, (ii) increase the number of hybrid and flex-fuel cars in its RAC and GTF fleet, (iii) innovation projects to optimize its operational process and integrating systems through the inclusion of technologies and programs to reduce the overall carbon footprint of its operations; and (iv) support investments in solar panel energy generation at its operational branches.