Malone Car Rental, the company set up by former Bord Failte director general, Mr Joe Malone, and former Aer Lingus chief executive, Mr Cathal Mullan, is to expand in a deal under which the Cork-based Keary Motor Group will take an unspecified but "substantial" shareholding in Malone Car Rentals. Malone Car Rentals was founded two years ago by Mr Malone and Mr Mullan and now has a fleet of 300 cars, operating from Dublin, Shannon, Cork and regional airports. Keary Motor Group is one of Ireland's biggest Toyota motor dealers, with outlets in Cork and Mallow and an extensive network of petrol stations in the south of the country.

Mr Malone said the shareholding taken by Keary would enable the company to expand its fleet, broaden its client base and increase its share of the market earlier and more than had had been envisaged in its strategic plan.