Localiza Rent a Car S.A. (BOVESPA:RENT3) said on June 3, 2022 it was in talks to sell about BRL 3.5 billion ($730 million) of assets to an investment fund managed by Brookfield Asset Management Inc. (TSX:BAM.A). Asset sales are a requirement of Localiza's tie-up agreement with Unidas, formally known as Companhia de Locação das Américas (BOVESPA:LCAM3). Brazil's antitrust regulator approved the tie-up late in 2021, but demanded the companies divest assets including the Unidas brand to avoid dominating the market.

Canada's Brookfield controls Brazilian rental car company Ouro Verde, which said in a securities filing the talks involved assets in the rent-a-car and used vehicle businesses to be divested from Unidas. The potential deal was first reported by Bloomberg News late on June 2, 2022. “As it is a competitive process, the companies are also negotiating with other interested parties.

Up to this date, there is no binding document signed with any of the interested parties,” Localiza said in a separate filing.